Aluta News

The Voice and The Struggle

Stakeholders laud impact of CAC’s reform on nation’s economy


By Aluta News

Dec. 04, 2021

Stakeholders on Saturday  described  the  positive impact of the reforms being pursued by the Corporate Affairs Commission (CAC) on the Nigerian economy  as immeasurable

In a statement signed by CAC’s Head Media Unit, Mr Rasheed Mahe, quoted a cross section of stakeholders as saying  during the quarterly CAC Customers’/ Stakeholders forum held on Thursday in Enugu, Enugu State.

Mahe added that Pat Ofili of the Nigerian Bar Association (NBA), Clement Egwu of Association of National Accountants of Nigeria (ANAN), Akpa Eme from Manufacturers Association of Nigeria (MAN) and Kamneme Njoku representing Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) urged  the CAC to  continue to pursue the reforms in line with global best practices.

According to them, the digitisation of CAC operations undoubtedly brought succour to the customers who they said in the past had to wait for up to six months or beyond to incorporate a company or conduct searches manually.

They,  therefore commended staffers  of the commission for  working extra hours to approve registrations both outside work hours and weekends and also charged them to sustain the tempo.

The speakers however enjoined the Commission to intensify its sensitisation drive and therefore called for more of such fora to ensure effective engagement.

While most of the speakers appreciated the way the Commission was changing, the representative of ICSAN, Njokwu enjoined the CAC to reinvigorate its enforcement mechanism against defaulting Companies in accordance with provisions of the law.

Earlier in his remark, the Registrar General/ CEO of the CAC, Alhaji Garba Abubakar, highlighted the reform initiatives of the Commission and restated his commitment towards ensuring frequent engagement with the stakeholders.

Abubakar, represented by the Director Compliance, Abdulhakeem Mohammed, renewed his pledge to provide a vibrant Customer Relationship Management System with a view to enhancing customer service before the end of the first quarter of 2022.

He therefore urged the customers/ stakeholders to leverage on the commission’s online system to make their filings and assured that the CAC was making efforts to ensure continuous improvement of its processes.

The one day forum featured discussion segment on customers’ experiences while interfacing with the Companies Registration Portal (CRP) with a technical team on hand to tackle head on the spot some of the challenges identified.