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CAC to Deregister 50,000 Companies

Category: Regulators

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CAC to Deregister 50,000 Companies


May 4, 201May 4th, 2011
Bello Mahmudu; the RG of CAC
Despite the snail pace of service delivery at Corporate Affairs Commission (CAC) has issued threat to deregister about 50,000 companies for non performance. A staff who spoke with us said this deregistration was due to the inability of the affected companies to pay their annual returns. He further said that these companies have been written to using their official address.
A director of one of the companies we spoke to, said that he did not receive any letter as the address he used while incorporating the company is no longer the resident address of the company.
Another staff of CAC responding to the affected director absolved CAC of any wrong as the official address of a company duly filed with CAC is that company’s address and CAC has rules for notification of change of address.
Meanwhile customers of CAC are lamenting over the snail pace of service delivery in CAC. It takes over 3 days to receive response to an application of Certified True Copy (CTC). Name registration takes over two weeks; absence of A4 photocopy papers has become a recurring irritation.
Customers of CAC are worried that a Commission responsible for regulation of companies in Nigeria cannot conduct a simple business of service delivery it its customers. They have called on Chief Jimoh Ibrahim the Executive Chairman of CAC to come to their aid and sanitise operations in CAC.
Source: CAC

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