New Business Registration Forms Will Be Available By End Of August — CAC

The Corporate Affairs Commission (CAC) says the two new forms of
business registration provided by the Companies and Allied Matters
Act (CAMA 2020) will be available for Nigerians by the end of
August 2021.

NAN quoted Garba Abubakar, the registrar general of the
commission, as saying this at a stakeholders forum on Thursday in
Port Harcourt.

Abubakar said the new forms of business registration- Limited
Partnership (LP) and Limited Liability Partnership (LLP) were
becoming increasingly desirable across various jurisdictions around
the globe.

He said the CAC was making arrangements to deploy a customer
relationship management (CRM) software to interact with customers
and resolve their challenges 24 hours a day.

Highlighting the commission’s ongoing reforms, Abubakar said
that filing of statements of affairs and biannual statements are
now conducted seamlessly on the CAC’s registration portal.

He maintained that all but two forms of post-incorporation
filings were now available on the portal.

The CAC boss emphasised that the commission can no longer
entertain filing of share transfer as it was alien to the law.

He added that information on a person with significant control
(PSC) was available free of charge on the CAC website in line with
global anti-money laundering requirements.

Addressing some customers’ concerns on the CAC’s denial of
certain names for registration, Abubakar said that some of such
rejected names had security implications while others were
deceptive or abstract.

He, however, advised customers to always approach the commission
with fully qualified names that equally agree with the objectives
of the association or organisation applying for registration.

While acknowledging the challenges of some customers interacting
with the company registration portal (CRP), Abubakar enjoined users
to always read guidelines for registration on its website and
leverage on the multimedia provided to aid user ability.

In April, the CAC) said it was prioritising the reduction of the
registration circle for new firms to three hours.

The Corporate Affairs Commission (CAC) says the two new forms of
business registration provided by the Companies and Allied Matters
Act (CAMA 2020) will be available for Nigerians by the end of
August 2021.

NAN quoted Garba Abubakar, the registrar general of the
commission, as saying this at a stakeholders forum on Thursday in
Port Harcourt.

Abubakar said the new forms of business registration- Limited
Partnership (LP) and Limited Liability Partnership (LLP) were
becoming increasingly desirable across various jurisdictions around
the globe.

He said the CAC was making arrangements to deploy a customer
relationship management (CRM) software to interact with customers
and resolve their challenges 24 hours a day.

Highlighting the commission’s ongoing reforms, Abubakar said
that filing of statements of affairs and biannual statements are
now conducted seamlessly on the CAC’s registration portal.

He maintained that all but two forms of post-incorporation
filings were now available on the portal.

The CAC boss emphasised that the commission can no longer
entertain filing of share transfer as it was alien to the law.

He added that information on a person with significant control
(PSC) was available free of charge on the CAC website in line with
global anti-money laundering requirements.

Addressing some customers’ concerns on the CAC’s denial of
certain names for registration, Abubakar said that some of such
rejected names had security implications while others were
deceptive or abstract.

He, however, advised customers to always approach the commission
with fully qualified names that equally agree with the objectives
of the association or organisation applying for registration.

While acknowledging the challenges of some customers interacting
with the company registration portal (CRP), Abubakar enjoined users
to always read guidelines for registration on its website and
leverage on the multimedia provided to aid user ability.

In April, the CAC) said it was prioritising the reduction of the
registration circle for new firms to three hours.