Corporate Affairs Commission (CAC) Aims To Register Companies In Two Hours

The Corporate Affairs Commission has said it is working to
ensure the completion of company registration in two hours starting
from December this year.

The Acting Registrar-General, CAC, Azuka Azinge, stated this on
Thursday during the oversight visit of the Senate Committee on
Trade and Investment to the commission’s Lagos office in Alausa,
Ikeja.

She said the various innovations that the commission had put in
place had created an enabling environment for customers to register
their businesses within 24 hours in line with global standards.

This, according to her, has contributed to the improvement in
the country’s global ranking in the World Bank’s Ease of Doing
Business Report by 24 places in 2017.

Azinge stated, “The post-registration is still manual. We are
hoping that before the next few months, we should have that online,
so that the issue of paying annual returns, which is still very
cumbersome at the moment, can be easily achieved.

“We are still working and improving on the pre-registration
infrastructure platform. We are hoping that as we continue to do
that, the pre-registration process will also become faster, with
less complaints from the customers. We want to reduce the 24 hours
it takes to register a company to two hours. We are hoping to do
that maybe by the end of the year or before that.”

Noting that the Senate committee had already conducted a public
hearing on the amendment of the Companies and Allied Matters Act,
she said the enactment of a new CAMA, reflecting some of the best
practices in company registration and administration, would boost
the country’s global ranking.

The Corporate Affairs Commission has said it is working to
ensure the completion of company registration in two hours starting
from December this year.

The Acting Registrar-General, CAC, Azuka Azinge, stated this on
Thursday during the oversight visit of the Senate Committee on
Trade and Investment to the commission’s Lagos office in Alausa,
Ikeja.

She said the various innovations that the commission had put in
place had created an enabling environment for customers to register
their businesses within 24 hours in line with global standards.

This, according to her, has contributed to the improvement in
the country’s global ranking in the World Bank’s Ease of Doing
Business Report by 24 places in 2017.

Azinge stated, “The post-registration is still manual. We are
hoping that before the next few months, we should have that online,
so that the issue of paying annual returns, which is still very
cumbersome at the moment, can be easily achieved.

“We are still working and improving on the pre-registration
infrastructure platform. We are hoping that as we continue to do
that, the pre-registration process will also become faster, with
less complaints from the customers. We want to reduce the 24 hours
it takes to register a company to two hours. We are hoping to do
that maybe by the end of the year or before that.”

Noting that the Senate committee had already conducted a public
hearing on the amendment of the Companies and Allied Matters Act,
she said the enactment of a new CAMA, reflecting some of the best
practices in company registration and administration, would boost
the country’s global ranking.