According to Michael Nwabufo, the ambassador for the Corporate Affairs Commission, business registration can now be finished through the new special registration portal in less than a day.
Speaking to reporters in Lagos on Monday, he exhorted company owners to seize the opportunity and meet the Central Bank of Nigeria and the CAC’s July 7 deadline for required business registration.
Nwabufo claims that companies can register on the portal and get documentation on the same day.
“To facilitate this, the CAC has introduced a Special Registration Portal (SRP), a new system enabling businesses to complete their registration directly through their mobile banking apps. This innovation streamlines the process, making it quicker and more convenient for agents to comply with the regulatory requirements,” the CAC ambassador said.
He urged company owners to utilise the SRP right away in order to guarantee prompt registration and prevent any fines for non-compliance.
He continued by saying that business owners might check their banking app or the official CAC website for additional information and access to the portal.
Nwabufo emphasised the value of business registration in Nigeria, saying that it encouraged individuality and confidence among business owners.
The Practitioners of Content Creating, Skit-Making, and Influencers Guild of Nigeria and the CAC, he said, have partnered to register more than 5 million new businesses in the country in less than a year.
Nwabufo expressed his gratitude to Hussaini Magaji, the Registrar-General of CAC, for his unceasing efforts to guarantee the safety and security of Nigeria’s economic environment.
Additionally, he praised Magaji for his steadfast backing of SMEs.
“The CAC has been one of the top-performing government parastatals in the past year, scoring 53.36 per cent in the Efficiency Compliance Ranking, 65.12 per cent in Overall BFA Performance, and the highest score on the ReportGov.NG platform with 67.86 per cent, indicating full compliance,” he remarked.
Recall that the financial technology companies and the CAC had agreed to a two-month period in May for the registration of merchants and agent bankers, or PoS operators.
The commission stated that the registration complied with CBN directions and regulatory criteria, giving a deadline of July 7.
Following a meeting behind closed doors with Magaji on April 26 at the CAC Headquarters in Abuja, Nwabufo was named CAC ambassador.
