The Corporate Affairs Commission (CAC) has unveiled an Electronic Filing System (EFS) for financial statements by registered entities in continuation of its reform initiatives. The registrar-general of CAC, Garba Abubakar, unveiled the platform to customers and stakeholders in Abuja on Wednesday. He said the platform would be available from Monday, adding that the accounting software ...

Alhaji Garba Abubakar, Registrar- General of the  Corporate Affairs Commission( CAC ), said that the commission would soon deploy additional three modules on its online registration portal. This is contained in a statement by Mr Rasheed Mahe CAC’s Head of Media Unit on Thursday in Abuja. Mahe  said Abubakar said this when  the Chairperson of ...

Mr Jarl Hansstein, Chief Technical Advisor, United Nations Industrial Development Organisation (UNIDO), said it has collaborated with the Corporate Affairs Commission (CAC), to register informal businesses. Hansstein said this in an interview with the News Agency of Nigeria ( NAN) on Wednesday  in Abuja. He said that  registration  for Small Medium Enterprises (SMEs)  was part ...

Finding a business name and looking it up on social media is not enough. Why? Your business name needs to be protected, and merely looking it up on social media cannot protect it. One of the steps to starting a business is to find a business name that people can identify with. Does this statement ...

The Corporate Affairs Commission (CAC) has provided reasons why it commenced the registration of private schools as limited liability companies and not as business entities. The commission maintained that the new development which took effect from March 2022 is to ensure continuity and show that private schools were essentially a corporate body capable of contracting ...

Dike Onwuamaeze writes on the expectations from the Nigerian National Petroleum Corporation as it becomes a Limited Liability Company from July

Section 850 of the Companies and Allied Matters Act (CAMA), 2020, empowers the Corporate Affairs Commission (CAC) to withdraw, cancel or revoke the certificate of an association at will. When this is done, it provides grounds for the subsequent dissolution of such association by an order of court. The case of Salomon v. Salomon is ...

A Federal High Court, Abuja on Monday slated June 20, 2022 for hearing in a suit filed by the Christian Association of Nigeria (CAN) against the Corporate Affairs Commission (CAC) and the Minister of Industry, Trade and Investment. Justice Inyang Ekwo, fixed the date after counsel to the plaintiff, Joe Kyari Gadzama, informed the court ...

The Corporate Affairs Commission (CAC) has said that it will no longer approve or register schools, academies and such other institutions as business names. In a circular from the Registrar General dated 4th of March and addressed to all approving officers of the Commission, it was stated that an institution is essentially a body corporate with ...

Informal businesses in the FCT will soon be registered as the Abuja Enterprise Agency (AEA) seeks partnership with the Corporate Affairs Commission (CAC). The AEA plans to register 2,000 micro and small businesses free of charge in the FCT, its Managing Director, Shehu Abdulkadir, said in Abuja on Thursday. He told the Registrar-General of the ...

The Special Control Unit Against Money Laundering (“SCUML”) was established by the Federal Government in September 2005 in compliance with the provisions of the Money Laundering (Prohibition) Act 2004 which was subsequently repealed and amended to the Money Laundering (Prohibition) Act 2011(as amended). SCUML is a unit under the Economic and Financial Crimes Commission (“EFCC”), ...

Introduction Companies are formed for many reasons, with the intent that they flourish, be profitable and by staying as a going concern, able to generate returns on investment for the shareholders, continue to be an employer of labour, taxpayer to government, responsible corporate citizen contributing to worthy causes, and service provider meeting the needs of ...

Introduction On the 7th of August 2020 the Federal Government of Nigeria enacted the Companies and Allied Matters Act, 2020 (“CAMA 2020“), thereby repealing the old CAMA 1990. As part of its several innovations, the CAMA 2020 introduced the Limited Partnership (LP)2 and the Limited Liability Partnership (LLP)3 which were hitherto not contained in the CAMA 1990. Prior to ...

Introduction The announcement of a new legislation in Nigeria came as expected even though it should have been brought earlier than now, however, a fundamental observation was made as to the new position of this legislation of which I will like to canvass on. Let me defiance off gravity scope alittle, it is pertinent to ...

No more secret operations for players in the oil and gas industry as the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Corporate Affairs Commission (CAC) are to launch a National Beneficial Ownership Register by January next year to chronicle their assets. The Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, and the Registrar General ...

The Corporate Affairs Commission (CAC) has established partnership with Pakistani investors as part of the Commission’s efforts to attract more foreign investments into Nigeria. CAC Head of Media, Rasheed Mahe, said in a statement on Sunday in Abuja that in pursuance of this CAC has provided a platform to acquaint Pakistani investors with the provisions ...