We’ve Streamlined Registration’s Processes – CAC

1 year ago Dammylink 0

The Acting Registrar-General of the Corporate Affairs Commission (CAC), Ms Azuka Azinge, has said the commission has simplified business registration by streamlining its processes and procedures to encourage MSMEs formalize their businesses.

Azinge said the development will also ensure more appropriate regulation for MSMEs in order to make Nigeria an investment destination of choice. She spoke during the annual stakeholders’ conference of the commerce and industry correspondent association of Nigeria, (CICAN) and the unveiling of its compendium held in Abuja on Thursday.

The CAC boss said the amendment of the Companies and Allied Matters Act, 1990, was designed to enhance the commission’s supervisory and regulatory powers. She said the amendment sought to ease how to start and grow businesses in Nigeria, and to ensure more appropriate regulation for MSMEs.

Also speaking, the Director-General of the National Automotive Design and Development Council, NADDC, Mr Jelani Aliyu, said the auto policy when implemented would bring foreign investment into the country.

According to him, key elements of the auto policy are a set of incentives to promote local production, discourage use of imported vehicles, and to issue a 10-year tax holiday to investors. He said the council had signed an MoU with Volkswagen to produce cars in the country.

In his welcome address, the CICAN Chairman, Mr Frederick Idehai, stated that the conference was aimed at seeking proper collaboration that would ensure that the ‘Project Nigeria’ works.

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