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CAC to deploy 3 more modules on its portal  

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CAC to deploy 3 more modules on its portal

Alhaji Garba Abubakar, Registrar-General of the  Corporate Affairs Commission( CAC ), said that the commission would soon deploy additional three modules on its online registration portal.

This is contained in a statement by Mr. Rasheed Mahe CAC’s Head of Media Unit on Thursday in Abuja.

Mahe said Abubakar said this when the Chairperson of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Business Women Working Group (NAWORG ), and Hajiya Aisha Abubakar visited him.

He said that deployment was in continuation of the commission’s reforms,

The registrar-general said that the module which included the eXtensible Business Reporting Language (XBRL) filing system for financial reports, was developed in collaboration with the Financial Reporting Council.

He said that it was also developed with support from the EU-act programme under the European Union and British Council.

The registrar said a stakeholder engagement/validation is being organised before the deployment of the new modules.

Abubakar said the commission`s active support and participation in the series of interventions by the current administration, include the 25,000 free business names registration.

He added that the commission just secured approval to register 20,000 more businesses at a 50 percent discount, in collaboration with the Abuja Enterprise Agency.

He said that in view of the successes recorded, many more state governments and groups have been approaching the commission to broker such collaborations to formalise more informal businesses.

Abubakar said that since January 2021, the commission ensured full digitization of its operations in line with the ease of doing business initiatives of the administration.

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He said that following the digitization, customers now obtain online certified extracts instantly with ease as against queuing up in the past for manual reports from the commission.

The CAC boss said that in line with the provisions of the CAMA 2020, the commission no longer issues documents with personal signatures especially to third parties except for court use.

Abubakar pledged support to NAWORG to provide customised advocacy training for women entrepreneurs, to motivate them to register their businesses

He commended the NAWORG Chairperson’s tremendous personal support to some of the commission’s reform initiatives as the Minister supervising the Affairs of the commission.

Earlier, the chairperson of NAWORG, Abubakar solicited the commission`s collaboration towards achieving gender equality and women empowerment in Nigeria.

She said that the number of Micro Small and Medium Enterprises (MSMEs) in Nigeria has dropped to 39 million from 41 million due to the negative impact of Covid-19.

Abubakar said that women-owned businesses became the hardest hit, adding that a large number of women-owned informal businesses in the society, which was an obstacle to women’s participation in public and private sectors.

The NAWORG chairperson who spoke extensively on their activities noted with delight that the CAC had opened several windows for MSMEs to formalise their businesses at discounted rates thereby earning it many awards.

She commended the commission for its reform initiatives which have reduced bottlenecks in the registration processes.

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