CAC Reviews Cost of Business Registration, says now Cheaper.

 In Investor News

The Registrar-General, Corporate Affairs Commission (CAC), Mr. Bello Mahmud, stated in Abuja that the cost of business registration in Nigeria was now cheaper and its process simplified to enable small entrepreneurs to register their businesses.

Mahmud announced this in a statement by Head, Public Affairs, CAC, Mr Godfrey Ike.

Mahmud disclosed this while addressing the Micro, Small and Medium Enterprise (MSME) Clinic. He said that with the Company Registration Portal (CRP), any member of the public could now register businesses on-line at the comfort of their homes and offices.

“This has drastically reduced the registration cost hitherto charged by professional middlemen (Lawyers, Accountants and Chartered Secretaries), in the registration process. Entrepreneurs who had already registered their businesses have the obligation to file Annual Returns with the Commission as and when due.”

Failure to file Annual Returns will result to striking-off of such defaulting entities on ground of dormancy.

The MSME Clinic is an initiative of the Office of the Vice President, which is aimed at holistically addressing all the operational challenges and bottlenecks of MSME in Nigeria, Mahmud stated.

According to him, the Commission is one of the critical Government agencies that has been participating in the on-going nationwide MSME Clinic that commenced in Aba in January.

He added that the MSME Clinic is expected to be held in all states of the Federation. “So far, the Clinic has been held in 13 states of the Federation,” he said.

According to him, other relevant agencies like FIRS, SON, Bank of Industry (BOI), NAFDAC, SMEDAN participated in the clinic. (NAN).

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