The Corporate Affairs Commission (CAC) says it has registered 3,098,193 companies and firms in three categories from its inception in 1990 to Thursday, March 21, 2019.
This was disclosed by the Acting Registrar, Azinge Azuka, at Customers/Stakeholders Forum in the country’s capital, Abuja.
According to the CAC boss registration of firms /companies under Parts Limited Liability Company (A), Business Name (B) and Incorporated Trustee (C) amounted to N618, 309.
The council received N175, 098 from the Limited Liability Companies (LLC) in 2016, N193, 194 from Business name (B) in 2017 and N252, 035 from Incorporated Trustee (C) in 2018.
Azuka noted that number of Annual Returns filed under the Parts A, B and C in the last three years was N190, 078.
According to her the major thrust of the Buhari-led administration is to revamp to the Nigerian economy by supporting Micro Small and Medium-sized Enterprises (MSMEs) whose activities are instrumental to the growth of the economy.
The CAC boss maintained that the commission remains resolute in reviewing its processes at regular interval.
“In that regard, work is at advanced stage to amend it enabling law, the Companies and Allied Matters Act (CAMA) in collaboration with the National Assembly.
“This seeks to ease starting and growing Businesses in Nigeria, Ensure more appropriate regulation for MSMEs. “Enhance transparency and shareholders engagement align regulate framework with International best practices and make Nigeria an investment destination of choice,” she said.
ISRAEL ODUBOLA
