Issues in NBA’s business workshop
The fourth Nigerian Bar Association (NBA), Abuja Chapter Discussion Series has suggested ways to enhance business registration in the country. The workshop, which was organised by the branch’s Section on Business Law in conjunction with the Corporate Affairs Commission (CAC), on Thursday, highlighted some burning questions among lawyers and the business public and their […]
The fourth Nigerian Bar Association (NBA), Abuja Chapter Discussion Series has suggested ways to enhance business registration in the country.
The workshop, which was organised by the branch’s Section on Business Law in conjunction with the Corporate Affairs Commission (CAC), on Thursday, highlighted some burning questions among lawyers and the business public and their solutions.
Speaking at the event, the chairman of the branch, Barrister Ezenwa Anumnu, explained that the weekly talk would become a platform for empowering lawyers, professional development and to showcase the vast knowledge pool available in the Bar for national development.
The Registrar General of the CAC, Bello Mahmud, who was represented by the Director of Compliance, Hajiya Sharfi, informed the audience of efforts being made to enhance e-registration of companies and business names and filing of annual returns.
She noted that the expected inauguration of the Customer Registration Portal would improve ease of doing business in Nigeria and enhance the country’s “competitive ranking” in the global business arena.
She assured that amendments to the Companies and Allied Matters Act (CAMA), wherein the commission has proposed several amendments, would soon be passed into law by the National Assembly.
Presenting a paper, the Special Assistant to the Registrar General, A.G. Abubakar and other facilitators at the forum, dealt with issues of how to make the services of the CAC more effective and efficient; requirements for availability of names, business registration, revalidation, mitigating challenges of payment into the Treasury Single Account (TSA), annual returns and other post-incorporation processes.
Dealing with the reforms being proposed in CAMA, the director Business Name (BN) in the commission, Abdulhakeem Muhammed, said there was no proposal for the amendment of forms, while on the issue of denial of names, he advised affected customers to make formal complaints.
Solomon Odole, Assistant Director, IT of CAC, explained that the commission had completed six modules on the new e-registration portal from where online searches could be conducted.