CAMA amendment’ll strengthen our enforcement capacity – CAC

Image result for The Registrar-General, Corporate Affairs Commission, Mr Bello MahmudThe Registrar-General, Corporate Affairs Commission, Bello Mahmud, on Monday said that an amendment of the Companies and Allied Matters Act would strengthen the regulatory and enforcement capacity of the commission.

Mahmud, according to a statement by the Head, Public Affairs Unit, CAC, Mr. Godfrey Ike, said this at the 2017 Annual General Conference of the Nigerian Bar Association.

The CAMA, which established the CAC, has been in operation for over 20 years.

The CAC boss said an amendment was currently needed to enable the commission to keep pace with changing business practices.

He stated that the commission had recorded a lot of progress in business registration in Nigeria in line with global best practices.

Mahmud noted that the deployment of the user-friendly company registration portal had enabled customers to have online access to the services of the commission from the comfort of their offices and homes, using different e-payment platforms.

He said that to encourage the use of the CRP, the commission had stopped manual submission of documents in Abuja, Port Harcourt, Kaduna, Kano, Lagos and Enugu for incorporation of new companies.

The registrar-general also revealed that the recent consolidation of new registration forms had significantly reduced the cost of registration and further simplified the company registration process.

With respect to stamping of documents, Mahmud revealed that through effective collaboration with the Federal Inland Revenue Service, all documents could now be stamped electronically.

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