Corporate Affairs Commission Registers 3,098,193 Companies

• Corporate Affairs Commission Registers 3,098,193 Companies

The Corporate Affairs Commission (CAC) has registered a total of 3,098,193 companies and firms since inception in 1990 to March 21, according to Mrs. Azinge Azuka, the Acting Register General of CAC.

Azuka disclosed this at the commission’s customers forum in Abuja.

According to her, in the last three years, the total number of registered firms and companies under Parts Limited Liability Company (A), Business Name (B) and Incorporated Trustee (C) was 618,309.

She said the revamp of the Nigerian economy through the support of Micro Small and Medium Enterprises (MSMEs) is the key factor behind the surge in the number of registered firms in the last three years.

She promised the commission will continue to review its processes in a bid to improve service delivery.

“In that regard, work is at an advanced stage to amend its 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.