In a recent statement, Michael Nwabufo, the Corporate Affairs Commission (CAC) ambassador, revealed that businesses can now complete their registration within 24 hours using the new Special Registration Portal.
Speaking to reporters in Lagos on Monday, Nwabufo emphasized the urgency for business owners to utilize this innovative portal before the July 7 deadline set by the CAC and the Central Bank of Nigeria. He highlighted that this portal allows businesses to register and obtain necessary documentation swiftly.
Nwabufo stressed the importance of compliance with new regulations aimed at enhancing transparency and accountability in the financial sector. He noted that agents and fintech companies must register their businesses by the July 7 deadline to avoid penalties.
“The introduction of the Special Registration Portal (SRP) by CAC simplifies the registration process. Now, businesses can complete their registration directly through their mobile banking apps,” explained Nwabufo.
He urged business owners to act promptly, leveraging the SRP for timely registration and compliance. Further details and access to the portal are available on the official CAC website and through banking apps.
Highlighting the significance of business registration in Nigeria, Nwabufo underscored its role in fostering trust and uniqueness among entrepreneurs. He mentioned a strategic partnership between the Practitioners of Content Creating, Skit-Making, and Influencers Guild of Nigeria and the CAC, aiming to register over 5 million new businesses nationwide within a year.
Nwabufo expressed gratitude to Hussaini Magaji, the Registrar-General of CAC, for his steadfast efforts in ensuring a secure business environment in Nigeria. He commended Magaji’s continuous support for SMEs.
“CAC has demonstrated exceptional performance in the past year, achieving high scores in Efficiency Compliance Ranking, Overall BFA Performance, and on the ReportGov.NG platform,” Nwabufo remarked.
Earlier in May, the CAC and financial technology companies agreed to a two-month timeline for registering merchants and agent bankers, known as PoS operators, aligning with legal requirements and CBN directives.
Nwabufo was appointed CAC ambassador following discussions with Magaji at the CAC Headquarters in Abuja on April 26.
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