The Corporate Affairs Commission (CAC) says it would start promoting statutory compliance by rewarding companies that have duly complied with its specified requirements stated in the Companies and Allied Matters Act.
CAC has the statutory responsibility of registering companies operating in Nigeria.
Bello Mahmud, registrar-general, CAC, said at a pre-event briefing for the commission’s maiden Annual Corporate Citizen Award slated for May 21 that the award was meant to reward corporate excellence in all sectors of the Nigerian economy.
The award would celebrate achievements in business and entrepreneurship, and would also stimulate economic objectives while improving Nigeria’s rating in the global competitive index of doing business, Mahmud said. The award is further expected to position the companies for global attractiveness through high rating by the CAC.
The registrar-general said further that the awardees must have fully complied with the requirements of the Companies and Allied Matters Act as well as industry regulations. They would also have performed well in the area of corporate social responsibility and must have impacted positively in the industry they operate.
Harrison Edeh
