The new level of collaboration between the Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS), has lead to the realization of the rare goal of electronic stamping of company registration documents.
This was revealed by the Registrar-General of CAC, Mr Bello Mahmud in a statement signed by the Head, Public Affairs Unit, CAC, Mr. Godfrey Ike in Abuja.
He added that the recent consolidation of new registration forms had significantly reduced the cost of registration and further simplified the company registration process.
On the way forward towards a steady growth of the Commission, Mahmud said that an amendment of the Companies and Allied Matters Act would strengthen the regulatory and enforcement capacity of the commission.
He noted that the CAMA, which established the CAC, has been in operation for over 20 years and is in dire need of amendment by the National Assembly in line with modern reality in corporate affairs and management.
Continuing, CAC boss averred that the commission had recorded a lot of progress in business registration in Nigeria in line with global best practices, stressing that the deployment of the user-friendly company registration portal had enabled customers to have online access to the services of the commission from the comfort of their offices and homes, using different e-payment platforms.
However, to encourage the use of the CRP, Mahmud revealed that the commission had stopped manual submission of documents in Abuja, Port Harcourt, Kaduna, Kano, Lagos and Enugu for incorporation of new companies.
According to him, the recent consolidation of new registration forms had significantly reduced the cost of registration and further simplified the company registration process.
He disclosed further that the entire new processes have reduced the activities of touts in defrauding prospective investors who want register their new companies.