The Corporate Affairs Commission (CAC) has announced the reduction of the registration process for new companies to 3 hours before the end of 2021.
This disclosure was made by the Registrar General/CEO of the commission, Garba Abubakar, during a dinner honouring the Chairman, Governing Board of the commission, Ademola Seriki.
According to the commission, 400 approving officers armed with the necessary tools to “process and approve registration applications” in order to execute the plan.
It was stated that the workers would conduct their tasks either from home or “anywhere necessary”.
Speaking on the effects of the pandemic on the delivery timeline of the commission, Abubakar revealed “that the challenges of Covid-19 pandemic adversely hampered CAC’s delivery timeline however said the CAC was resolutely committed to serving its Customers despite being forced to operate with less than 50% of its workforce.
On the newly-introduced initiatives, Seriki said, “that some of the new initiatives coming onboard include the mandatory requirement for obtaining letter of good standing from the CAC for procurement purposes.”
He added that companies seeking to secure government contracts must “obtain letter of good standing from the Commission in a bid to further strengthen the fight against corruption.”
It was also revealed that the “Optional Notification Alert System was also being prioritized and that under the arrangement companies can elect to be notified whenever changes were made in their structure at the CAC.”