Corporate Affairs Commission registers 69,000 coys

The Corporate Affairs Commission (CAC) has registered 69,000 entities from October 1, 2018 to date when it slashed the cost of registration to N5,000 for small businesses. About 50,000 entities were registered within the same period last year, indicating a marked improvement as a result enhanced ease of doing business adopted by the CAC. This was disclosed Friday in Abuja by the Ag. Registrar-General, CAC, Lady Azuka Azinge at the media roundtable. She stated that the success recorded as a result of the reduced cost of business registration informed the decision of the Commission to apply for extension of the exercise. She said the Commission has recorded milestones and landmarks in business registration in Nigeria in line with global best practices and enabling business environment in the country. Lady Azinge pointed out that the CAC has delisted 40,000 companies so far for various reasons, although none has been delisted this year. The Acting Registrar-General noted that the deployment of the user-friendly Company Registration Portal (CRP) afforded customers on-line and real-time access to the services of the Commission from the comfort of their offices and homes using different e-payment platforms. She explained that the Commission stopped manual submission of documents nationwide in order to encourage the use of CRP. The Acting Registrar-General noted that one of the focal points of the federal government through the Presidential Enabling Business Environment Council (PEBEC) was to improve the business environment and make Nigeria a progressively easier place for businesses to start and thrive. She confirmed that the Commission as the agency of government involved in the start-up of business had keyed into the laudable agenda. According to Lady Azinge, the Commission has been working closely with the Presidential Enabling Business Environment Council (PEBEC) under the Office of the Vice President, Professor Yemi Osinbajo, SAN, and commended efforts by the Enabling Business Environment Secretariat (EBES) and acknowledged that the latter’s collaboration with the Commission contributed immensely in improving Nigeria’s ranking in the World Bank Ease of Doing Business Index. Joseph Inokotong, Abuja