Registration: CAC Ambassador urges business owners to beat July 7 deadline

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Michael Nwabufo (aka Mike Premium), the Ambassador for the Corporate Affairs Commission (CAC), on Friday urged business owners to beat the July 7 deadline for registration.

Nwabufo, a talent and brand manager, made the appeal while speaking with newsmen in Lagos.

He said the CAC business registration could be completed within 24 hours through the new Special Registration Portal (SRP).

According to him, the CAC has made a lot of significant advancement recently through SRP to ease registration of businesses in line with the new government directives.

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On the mandatory business registration, the CAC and the Central Bank of Nigeria, Nwabufo said the portal had enabled businesses to be registered and receive documentation in a day.

“There is a crucial deadline for agents and fintech companies to register their businesses.

“Compliance is mandatory under new regulations aimed at enhancing transparency and accountability within the financial sector. The deadline ends on July 07.

“To facilitate this, the CAC has introduced a Special Registration Portal, a new system enabling businesses to complete their registration directly through their mobile banking apps.

“This innovation streamlines the process, making it quicker and more convenient for agents to comply with the regulatory requirements,” Nwabufo said.

He urged business owners to take advantage of the SRP immediately to ensure timely registration and avoid any potential penalties for non-compliance.

Nwabufo urged business owners to arm themselves with further information and access to the portal by visiting the official CAC website or consult your banking app.

Emphasising the importance of business registration in Nigeria, Nwabufo said that it would foster uniqueness and trust among entrepreneurs.

According to him, there is a partnership between the Practitioners of Content Creating, Skit-Making, and Influencers Guild of Nigeria and the CAC.

He said that the partnership was aimed at registering over five million new businesses nationwide within a year.

Nwabufo thanked the Registrar-General, Hussaini Magaji SAN, for his continuous efforts in making sure the Nigerian business space was safe and secure.

He also commended Magaji for his unwavering support for Small Medium Enterprises.

“The CAC has been one of the top performing government parastatals in the past one year scoring 53.36 per cent in the Efficiency Compliance Ranking, 65.12 per cent in Overall BFA Performance and highest score on the ReportGov.NG platform with 67.86 per cent, indicating full compliance,” he said.

He also mentioned the possibility of the Federal Government grants for content creators who register their businesses through this new process.

The News Agency of Nigeria (NAN) reports that Nwabufo was appointed CAC ambassador on April 26.  (NAN)

By Rukayat Moisemhe

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