CAC registers 73,000 companies in three months

The Corporate Affairs Commission (CAC) has registered over 73,000 companies within three months under its cost-friendly Business Incentive Strategy (BIS) rolled out in October last year, Acting Registrar-General of the commission, Lady Azuka Azinge has said.

According to Azinge, “From 1st October to 31st December, 2018, we registered 73,000 companies and if you look at the previous year, about 30,000 companies were registered in 2017; so you can see the BIS has been successful.’’

She made this known in Abuja, Thurday, saying that the Commission would record a higher number of registration in the first quarter of 2019.

She explained that based on popular demand the commission had to go back to the Minister for extension from January 1 to March 31, 2019, as the agency was almost at tail end of the second part stressing, ‘’ So far, we are exceeding what we did last year. We expect to see a higher number which is what we are seeing already in our record.”

Azinge, who was conferred with an award by CICAN as best Chief Executive Officer of Government Agency, 2018, for her deep initiatives to aid ease of doing business in the country, called on private sector operators to take advantage of the BIS window which ends on 31 March 2019 to register their business names at reduced fee of N5, 000.

The CAC boss, who expressed surprise over the award, commended CICAN for acknowledging the unsung achievements recorded by the Commission, adding that there was no going back on the various initiatives put in place to ensure ease of doing business in the country.

“The Commission has undertaken many initiatives. We are fully decentralised in our operations, whereby you now have online registration of business names, limited liability companies as well as the incorporated trustees, which can be register online 24 hours within which you get your certificate. Payments are also done online, there is also integration with the FIRS on issue of the stamp duty,” she said.