In line with Federal Government's quest to reduce the challenges that militate against doing business in the country, Corporate Affairs Commission (CAC), has concluded plans to complete the registration of companies within two hours. The Acting Registrar-General, CAC, Azuka Azinge, made the disclosure on Thursday during the oversight visit of the Senate Committee on Trade and Investment to the commission’s Lagos office in Alausa, Ikeja.
She stated that the various innovations that the commission had put in place had created an enabling environment for customers to register their businesses within 24 hours in line with global standards. She explained the that effort of the Commission had contributed to the improvement in the country’s global ranking in the World Bank’s Ease of Doing Business Report by 24 places in 2017.
“The post-registration is still manual. We are hoping that before the next few months, we should have that online, so that the issue of paying annual returns, which is still very cumbersome at the moment, can be easily achieved.
“We are still working and improving on the pre-registration infrastructure platform. We are hoping that as we continue to do that, the pre-registration process will also become faster, with less complaints from the customers. We want to reduce the 24 hours it takes to register a company to two hours. We are hoping to do that maybe by the end of the year or before that.”
