The footprints of a silent operator at CAC

When the Minister of Trade and Investment, Dr Olusegun Aganga announced late last year, at the closing of the 8th National Conference on Investment, that the country was targeting $16 billion (about N4.2 trillion) revenue from foreign direct investments (FDI) in 2013, it was undoubtedly clear to many analysts why the minister was so optimistic: […]

When the Minister of Trade and Investment, Dr Olusegun Aganga announced late last year, at the closing of the 8th National Conference on Investment, that the country was targeting $16 billion (about N4.2 trillion) revenue from foreign direct investments (FDI) in 2013, it was undoubtedly clear to many analysts why the minister was so optimistic: the significant transformation in the Nigerian business environment owing to improvements in operations of organisations like the Corporate Affairs Commission (CAC). A few years ago, it was a herculean task to get a company registered for businesses in the country.
Shortly after his appointment as the Registrar-General and Chief Executive Officer of the CAC in November, 2009, Bello Mahmud left no one in doubt about his determination to lift the commission to greater heights.
As one of the key stakeholders of the CAC for many years, I know for a fact that before his ascension to the position of its CEO, the commission was, to a reasonable extent, still trudging. The story has, however, changed with the coming of Bello Mahmud.
It is also to the credit of this lawyer, who has had a distinguished career in private practice, that CAC’s clients are now able to file their annual returns in good time. This is in addition to also making – within reasonable space of time – other statutory filings required of registered companies, business names and incorporated trustees, all in compliance with provisions of the Companies and Allied Matters Act (CAMA). Besides, it was Bello Mahmud, who had also left an indelible mark when he served as Attorney-General and Commissioner for Justice in Sokoto State from 1996 to 1999, that put practical steps to ensure that state offices of the CAC have become not only very functional, but also at par with the head office in all aspects of registration services.
Beyond all these, the incumbent registrar-general nudged the CAC higher by ensuring that the commission’s dream of 24-hour registration of companies has become a reality. This has upped the number of registered business entities in the country significantly, from less than 1.2 million in December, 2009 when he was appointed to almost 3 million in a space of two years; that is, by December, 2011. For instance, available records showed that the CAC had registered almost 900,000 companies, over 1.9 million business names and almost 50,000 incorporated trustees as at the end of December, 2011.
Although Mahmud appears to be media shy, this calm and collected CEO at the CAC no doubt appreciates the value of teamwork. He believes, like Joe Paterno said, that, “When a team outgrows individual performance and learns team confidence, excellence becomes a reality.” He has, in line with his belief in the above saying, tremendously improved the welfare and working conditions of employees at the commission. Not only that, within less than three years of his stewardship, the CAC now boasts of a befitting corporate headquarters building – an imposing edifice in Maitama District of Abuja. This is besides the significant improvements in its annual revenue remittances to the federation account. The remittances have increased from N3 billion when he took over to over N5.5 billion as at end of 2012.
Not done yet, Bello Mahmud said recently that he would work harder to ensure that the CAC evolves into a world-class companies registry that is driven by the best technology and a highly motivated workforce, which will render excellent services, keep accurate and reliable companies records and have an effective enforcement capability that ensures substantial compliance with the extant rules by all registered entities in Nigeria.
Biodun Olajuwon, a lawyer, wrote from Wuse Zone 2, Abuja.