CAC surpasses N18.2b projected revenue for 2020, upgrades portal for business registrations – WorldStage

CAC surpasses N18.2b projected revenue for 2020, upgrades portal for business registrations – WorldStage

WorldStage Newsonline– The Registrar General of the Corporate Affairs Commission (CAC) Garba Abubakar  said the commission closed the 2020 revenue target with N19 billion from a projected target of N18.2billion.

Abubaka said at a media parley that N2.7vbillion was remitted to the federal government as operation surplus in 2020.

He added that the commission had blocked leakages that dwindle government revenue in the past, saying one of the major leakages, was the cloning of remits receipts when customers were been allowed into the premise.

He said the CAC had upgraded it’s portal for business registrations to ensure a seem-less process and eliminate physical contact with customers.

He said the new electronic system for customers will allow them get their applications remotely and  a QR code to validate their registration.

Unlike before, he said every registration requirement is consolidated in one place, as Customers can upload signatures, personal details as well as certificate of incorporation.

Abubabakr said “CAC has a portal where you can start and finish your registration and get your certificates electronically, with a QR code to validate document and the CAC is the first to do that.

“No data was lost, information has been upgraded and old application requirements has changed, all applications  that has not  been approved before 31st December has to be updated in line with the new law.

“Every customer must revalidate his existing account before the end of March, because by 1st April, all accounts not revalidated will be suspended.”

The RG further stated that the Commission was collaborating with the National Identity Management Commission to integrate company registration with National Identity Number, so that there won’t be any need for means of identification.

He said the CAC was also getting list of licenced lawyers from the supreme court which are permitted to practice in Nigeria.

Asked on the Union’s grievances with the Commission, the RG explained that “The  former management decided that no promotion will be held because of scarce resources, but we revisited the issue and board approved two promotion exams were conducted at 2 months interval where 258 were promoted for 2019, and 190 for 2020. All the staff received their letters.

“But due to scarce resources, management said Promotion should take effect from 2019, but financial benefits should commence from 2020 which is the beginning of their grievances.

“Union hardly see anything good, but we won’t be distracted, majority of the staff are committed to work and not in support of the strike, no union or anybody will close the office,  OPTA is a junior staff union and the courts have said so, the leadership is not recognized by the management.”

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Source: www.worldstagegroup.com