In a bid to ensure a more efficient way of doing business in Nigeria, the Corporate Affairs Commission (CAC) had partnered the UK Department for International Development (DfID) through the DfID-GEMS3 programme.
Speaking during a recent public private dialogue/market traders meeting organised by both agencies in Lagos, Team Leader, GEMS3, Mr. Obinali Egele, said they look at policies, regulations and institutions that affect people’s ability to do business in Nigeria.
“Working with the CAC, what we do is to is to identify those areas of businesses in their transactions with CAC and try to force the procedure and time it takes to deal with them,” he said.
Egele explained that the partnership also helps to eliminate having agents do registration for business owners but do so by themselves, adding that in order to making life easier, it now takes only 24 hours to start and register a business with the CAC.
He further noted that small and medium enterprises (SMEs) are the major employers of labour in Nigeria because they have the ideas and innovations to solve the worrying unemployment problem.
Meanwhile, the Special Adviser to the CAC Registrar, Mr. Garuba Abubakar, in a chat, noted that presently, any form of bottleneck is a thing of the past in CAC.
Abubakar stressed that since January 2012, the CAC had opened its doors to all Nigerians who want to register their business names, companies and incorporation of documents, which he added is a departure from previous practice where they had to go through lawyers, accountants and chartered secretaries for registration.