The Corporate Affairs Commission (CAC) has introduced a Special Registration Portal (SRP) that enables business registration within 24 hours, according to CAC ambassador Michael Nwabufo. Speaking in Lagos, Nwabufo highlighted the portal’s efficiency and urged business owners to take advantage of this innovation ahead of the July 7 deadline set by the CAC and the Central Bank of Nigeria for mandatory business registration.
Nwabufo emphasized that the new portal is crucial for agents and fintech companies to comply with new regulations aimed at enhancing transparency and accountability in the financial sector. The SRP allows businesses to register through their mobile banking apps, streamlining the process and ensuring quicker compliance. He advised business owners to register promptly to avoid potential penalties for non-compliance.
Highlighting the importance of business registration in fostering trust and uniqueness among entrepreneurs, Nwabufo mentioned a partnership with the Practitioners of Content Creating, Skit-Making, and Influencers Guild of Nigeria to register over 5 million new businesses within a year. He praised CAC’s Registrar-General, Hussaini Magaji, for his efforts in creating a safe business environment and supporting SMEs.
Source: Punch