LATEST UPDATES
Card-image-cap

Business | Doing Business in Nigeria

CAC Upgrades Its Company Registration Portals to Automate Pre- and Post-Incorporation Procedures

Jan 21, 2021   •   by   •   Source: Proshare   •   eye-icon 4621 views

Thursday,January 21, 2021 / 04:34 PM / By Wole Obayomi  / Header Image Credit: pre.cac.gov.ng/home


Proshare Nigeria Pvt. Ltd.


The Corporate Affairs Commission (CAC) recentlyannounced the upgrade its website and online registration portal ("the Portal")to include features, which allow for the automation of some selected servicesand processes, in line with the Federal Government's mandate of improving theease of doing business in Nigeria.  The selected services and processesinclude:

 

a.    Electronic search of company records:

Companiescan now visit the CAC's portal (https://search.cac.gov.ng/home) to confirmtheir corporate information in the CAC's registry, for an application fee of N1,000.

 

b.   Upgraded Companies Registration Portalfor:

  • Pre-incorporation filings:  the upgrade allowsinvestors and professionals to complete and submit pre-incorporation filingdocuments for new companies via the Portal (https://pre.cac.gov.ng/home) forapproval.  Once the application is approved, users can download anelectronic certificate of incorporation (E-Certificate) as the CAC would nolonger issue physical certificates.
  • Post incorporation filings:  the upgrade alsoallow companies to make changes to their existing information with the CAC viathe Portal (https://post.cac.gov.ng/login), includingchanges to their constitutions, structures and the mandatory annual returns ofthe companies, amongst others.

 

Comments 

We commend the CAC for upgrading its registrationportal to include additional functionalities that will improve itsadministrative processes.  This innovation comes on the heels of thepublication of the Companies' Regulations, 2021, which encourages the use oftechnology for service delivery and demonstrates the Federal Government'sresolve to automate the processes of its agencies to align with global bestpractices and improve the ease of doing business in Nigeria.

 

With the impact of Covid-19 on global administrativeprocedures, it is imperative that the CAC embraces technology to improve itsservices and discontinue manual pre-incorporation and post-incorporationprocedures.  It is hoped that the CAC's website and online registrationportal will continue to remain accessible and closely monitored to preventsystem downtime which has plagued such initiatives in the past.  Further,the CAC should ensure that adequate measures are put in place to protectcompanies' data and guarantee the integrity of corporate information in itscustody.

 

Our dedicated Corporate Secretarial Services Team areavailable to support you with your regulatory compliance needs, includingcompany incorporation, miscellaneous statutory filings and general regulatorycompliance with Nigerian corporate law.

 

Credits

* This statement wasfirst published in the Issue 1.7/ January 2021 Newsletter of KPMG of Thursday,January 21, 2021. For further enquiries,please contact the author, Wole Obayomi via [email protected]


Proshare Nigeria Pvt. Ltd.


Related News

  1. IoD Nigeria Forum: Stakeholders Steer A Pathway For the CAMA Act 2020
  2. SCUML Releases New Requirements for Registration
  3. CAC Releases Draft Companies Regulations Made Under CAMA 2020
  4. Nigeria's Revised Rules on Fin. Assistance: Implications for Corporate Acquisition Transactions
  5. FEC Approves National Ethics and Integrity Policy
  6. Section 839 of CAMA 2020; The Counter-Argument
  7. The Sea is History - the CAMA 2020 Aspires to Optimize Corporate Regulation in Nigeria
  8. World Bank Suspends Its Doing Business Report, Investigates Data Irregularities
  9. CAMA 2020 Netting Provisions: Game Changer for FMDQ Derivatives and Central Counterparty Agenda
  10. CAMA 2020: Snapshot of the Key Amendments to the Act
  11. A Regulatory Friendly Business Environment Will Attract More Investments for MSMEs - Ayo Bankole
  12. CAMA 2020: Reforming Provisions That Impact The Nigerian Business Community
  13. President Buhari Signs the Companies and Allied Matters Bill, 2020
  14. Ayokunnu Ojeniyi to speak on EBES, NAP 5.0 and Improving Nigeria's Business Environment
  15. ICRC Announces the Commencement of Operations of the NII3P
  16. FGN to Hold Stakeholders Consultation Webinar on Highways PPP Program
  17. Zainab Ahmed, Fashola To Speak At Turkey-Nigeria PPP Knowledge Webinar
  18. Why the ICRC Act is important for effective PPPs' and Enforcing the Sanctity of Contracts - Udofia
  19. Ahead of Tomorrow on WebTV: Discussions on Doing Business and Sanctity of Contracts in Nigeria
  20. Liquidity and Safety of Staff top Nigeria Businesses COVID-19 Concerns - PwC Survey

 

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Get the App

apple-store  play-store

Connect with us


Proshare is a professional practice focused on delivering research and information services to bridge the gap between investors and markets; by delivery on credible, reliable, and timely engagements through the following areas — Impact Research, Market Intelligence, Strategic Advisory, Stakeholder Relations & Digital Media.