CAC: New Business Registration Forms Will Be Available By End Of August, 2021

Abubakar said the new forms of business registration- Limited Partnership (LP) and Limited Liability Partnership (LLP) were becoming increasingly desirable across various jurisdictions around the globe.

CAC: New Business Registration Forms Will Be Available By End Of August, 2021

The Corporate Affairs Commission (CAC) says the two new forms of business registration provided by the Companies and Allied Matters Act (CAMA 2020) will be available for Nigerians by the end of August 2021.

NAN quoted Garba Abubakar, the registrar general of the commission, as saying this at a stakeholders forum on Thursday in Port Harcourt.

Abubakar said the new forms of business registration- Limited Partnership (LP) and Limited Liability Partnership (LLP) were becoming increasingly desirable across various jurisdictions around the globe.

He said the CAC was making arrangements to deploy a customer relationship management (CRM) software to interact with customers and resolve their challenges 24 hours a day.

Highlighting the commission’s ongoing reforms, Abubakar said that filing of statements of affairs and biannual statements are now conducted seamlessly on the CAC’s registration portal.

He maintained that all but two forms of post-incorporation filings were now available on the portal.

The CAC boss emphasised that the commission can no longer entertain filing of share transfer as it was alien to the law.

He added that information on a person with significant control (PSC) was available free of charge on the CAC website in line with global anti-money laundering requirements.

Addressing some customers’ concerns on the CAC’s denial of certain names for registration, Abubakar said that some of such rejected names had security implications while others were deceptive or abstract.

He, however, advised customers to always approach the commission with fully qualified names that equally agree with the objectives of the association or organisation applying for registration.

While acknowledging the challenges of some customers interacting with the company registration portal (CRP), Abubakar enjoined users to always read guidelines for registration on its website and leverage on the multimedia provided to aid user ability.

In April, the CAC) said it was prioritising the reduction of the registration circle for new firms to three hours.

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