CAC To Sanction Firms Without Validated Accounts From April 1

The Corporate Affairs Commission (CAC) has given registered
companies till April 1 to validate their bank accounts or get
sanctioned.

Its Registrar General Garba Abubakar vowed firms who have
refused to revalidate their accounts will not be accredited.

Abubakar told reporters in Abuja of needs by firms to update
their information as the commission is considering an amnesty for a
certain number of years on annual return filings, even though the
details have not been completely worked out.

Speaking on the purported threat by CAC workers to embark on
strike on Tuesday following a disagreement with the management, the
CAC boss said the union that issued the strike is no longer in
existence and cannot carry out such action.

“AUPCTRE is no longer recognised as a senior staff union in CAC
because of the decision of the National Industrial Court that
declared AUPCTRE a junior staff union.

“A copy of the judgment has been made available to us and there
is no stay of execution on the judgement. To that effect AUPCTRE
stopped existing in CAC. It has been dissolved.

“Staff of the Commission have been advised to join any organised
union of senior staff of their choice. All union dues deductions
from staff salaries have been stopped”.

He warned the CAC management will not tolerate disruption of the
Commission activities by any group of people under the guise of a
strike.

The Corporate Affairs Commission (CAC) has given registered
companies till April 1 to validate their bank accounts or get
sanctioned.

Its Registrar General Garba Abubakar vowed firms who have
refused to revalidate their accounts will not be accredited.

Abubakar told reporters in Abuja of needs by firms to update
their information as the commission is considering an amnesty for a
certain number of years on annual return filings, even though the
details have not been completely worked out.

Speaking on the purported threat by CAC workers to embark on
strike on Tuesday following a disagreement with the management, the
CAC boss said the union that issued the strike is no longer in
existence and cannot carry out such action.

“AUPCTRE is no longer recognised as a senior staff union in CAC
because of the decision of the National Industrial Court that
declared AUPCTRE a junior staff union.

“A copy of the judgment has been made available to us and there
is no stay of execution on the judgement. To that effect AUPCTRE
stopped existing in CAC. It has been dissolved.

“Staff of the Commission have been advised to join any organised
union of senior staff of their choice. All union dues deductions
from staff salaries have been stopped”.

He warned the CAC management will not tolerate disruption of the
Commission activities by any group of people under the guise of a
strike.