By Raphael Ede
The Corporate Affairs Commission (CAC) is to deploy new registration software that will make it possible to carry out registration services and conduct searches on registered businesses online by July, 2014.
The Registrar-General, CAC, Mallam Bello Mahmud, disclosed this Monday in Enugu at the commencement of enlightenment campaign in the state on direct registration of businesses.
He said that with the new software, registration of companies could now be processed directly by the owners, stressing that the Commission since January, 23rd has commenced start-to-finish services in the Enugu office, which he said means all applications for incorporation of new companies filed in Enugu are processed and certificates generated without having to send the documents to Abuja.
The programme was organised by the Growth and Employment in States at the Modotel, hotel. According to the CAC boss, when the software is deployed it will principally benefit small and medium-scale entrepreneurs who may not be able to afford the services of accredited agents like lawyers, chartered accountants and chartered secretaries.
“It is also expected that the policy will also encourage informal businesses to register, and in the long run, deepen access to finance for those classes of businesses,” Mahmud said.
Mallam Mahmud said to encourage small businesses to grow the federal government has reduced the filing fees payable for registration of new companies and increase in share capital by 50% and 25% for companies for capitals within the threshold of N500million and over N500 million respectively.
He also commended the GEMS3 for its continuous support and assistance in the area of enlightenment and technical support it had been providing to the CAC in the design, development and testing of the new registration software.