CAC Introduces 24-hour Company Registration Process

The Registrar-General Corporate Affairs Commission (CAC), Mr. Mahmud Bello, has said the commission has started operating 24 hours company registration process to make startup of business easier in Nigeria.

Bello said this at the CAC Customers’ Forum in Kano, organised in collaboration with the Presidential Enabling Business Environment Council (PEBEC).

The registrar-general made this known in a statement yesterday in Abuja
He said the aim of operating the new system was to ensure that business owners in Nigeria conveniently registered their businesses online within 48 hours. According to him, series of reforms have been implemented by the commission this year to make it quicker, cheaper and more convenient for Nigerians to start businesses.

“CAC, as an agency of government involved in the startup of business, has keyed into the federal government’s vision to make Nigeria an easy place for businesses to start and thrive.
“Our reforms are designed with the MSMEs in mind. For us, a customer is a king and must be treated with royalty,” Bello said.

Bello said manual application and registration processes would be gradually phased out in the course of the year.
According to him, the manual registration phase out will start with Lagos and Kano as from April 30, where all submissions should be done online.

Also, the Secretary of PEBEC, Dr. Jumoke Oduwole, said the council was committed to providing complete support to CAC and all other MDAs to implement the reforms.
According to Oduwole, the reform is to actualise the federal government’s mandate of making businesses work in Nigeria.

The high point of the event was a demonstration session by the commission on its latest reforms such as document upload interface which enabled e-submission of registration documents in CAC registration portal.
The demonstration also involves the integration of the FIRS e-payment solution into the portal to enable e-stamping.
Accordingly, the participants were given a walk-through of the public search window and the single incorporation form.