CAC Launches Electronic Portal For Company Registration

This was disclosed to newsmen in Abuja on Monday by the Registrar-General of the Commission, Alhaji Garba Abubakar.

According to the CAC boss, the online registration portal was launched on January 3, 2021 in compliance with the provisions of the new Companies and Allied Matters Act (CAMA).

With this development, all applications for company registration can now be done and processed online.

Abubakar added that the new CAMA recognises the right of individuals to process company registrations without engaging the services of lawyers or even chartered secretaries.

All registered customers of the CAC, who register companies on behalf of the public, must revalidate their registrations before the end of March through the electronic process, he added.

It will be recalled that President Muhammadu Buhari has said the recent signing of the Companies and Allied Matters Act, 2020 (CAMA) will help the fight against corruption.

He made this known while speaking in a video message presented at the Open Government Partnership (OGP) 2020 Virtual Leaders’ Summit on the sidelines of the 75th Session of the United Nations General Assembly (UNGA75) in New York.

Buhari explained that the CAMA Act will enhance transparency and corporate accountability in the fight against corruption.

According to the president, his administration was committed to changing international and domestic perceptions regarding Nigeria’s commitment to fight corruption.

Meanwhile, the President/Chief Executive, Dangote Industries Limited, Aliko Dangote, has dropped from 106th to 114th in the list of the wealthiest men/women in the world.

According to Bloomberg Billionaires Index, Dangote’s total net worth drop by $900m on Friday as his flagship company emerged the biggest loser at the end of trading on the Nigerian Stock Exchange (NSE).

Bloomberg showed that his wealth fell from $18.4bn on Thursday to $17.5bn on Friday.

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