In a notable development, the Corporate Affairs Commission (CAC) has unveiled a special registration portal that allows businesses to complete their registration within 24 hours, according to CAC Ambassador Michael Nwabufo.
Nwabufo explained that this innovation aims to streamline the registration process, making it more efficient and convenient for business owners to meet regulatory requirements.
During a speech in Lagos on Monday, Nwabufo urged business owners to take advantage of the new portal and register their businesses before the July 7 deadline set by the CAC and the Central Bank of Nigeria (CBN). He stressed that compliance is mandatory under new regulations designed to enhance transparency and accountability within the financial sector.
The Special Registration Portal (SRP) is a user-friendly system that allows businesses to complete their registration directly through their mobile banking apps. This eliminates the need for physical visits to CAC offices, reducing the time and effort required for registration.
Nwabufo encouraged business owners to access the portal through the official CAC website or their banking app to ensure timely registration and avoid potential penalties for non-compliance.
The CAC has partnered with the Practitioners of Content Creating, Skit-Making, and Influencers Guild of Nigeria to register over 5 million new businesses nationwide within a year. This initiative aims to promote entrepreneurship and support small and medium-sized enterprises (SMEs) in Nigeria.
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