CAC registers 245,000 SMEs free of charge



 The Corporate Affairs Commission (CAC) says it has than 245,000 Small and Medium Enterprises businesses free of charge.

The Registrar-General, Alhaji Garba Abubakar, told the News Agency of Nigeria (NAN) in Abuja on Wednesday that it did this with the approval of the Federal Government.

The Federal Government, he said, approved the free registration of 250,000 business names as part of its to assuage the economic effect of -19.

He said the Federal Government paid 50 per cent of the cost of registration to CAC and than 245,000 business names  consequently registered.

Abubakar explained that the process was electronic and applicants also got their certificates electronically.

He added that the numbers divided between the 36 states of the federation and the FCT noting that Lagos, Abia and Kano States had the largest numbers.

He said free registration of 6, 606 business names was approved 33 states while Abia, and Kano States would have 7, 906, 9,084 and 8,406 respectively.

Abubakar noted that aggregators appointed and paid to collect SMEs information and submit same to CAC.

He explained that the commission provided special access  the aggregators effective service delivery they  responsible scanning and uploading of documents.

He added that CAC had to take  from one of the aggregators appointed two states but failed to deliver.

Abubakar said also that the of CAC and appointment of substitute aggregators to take  in the two states sped up the process, already nearing completion.

are hoping that by end of September the exercise will come to an end,’’ he said. (NAN)