CAC Upgrades Its Company Registration Portals to Automate Pre- and Post-Incorporation Procedures

Thursday, January 21, 2021 / 04:34 PM / By Wole Obayomi  / Header Image Credit: pre.cac.gov.ng/home

The Corporate Affairs Commission (CAC) recently announced the upgrade its website and online registration portal ("the Portal") to include features, which allow for the automation of some selected services and processes, in line with the Federal Government's mandate of improving the ease of doing business in Nigeria.  The selected services and processes include:

a.     Electronic search of company records:

Companies can now visit the CAC's portal (https://search.cac.gov.ng/home) to confirm their corporate information in the CAC's registry, for an application fee of N1,000.

b.    Upgraded Companies Registration Portal for:

• Pre-incorporation filings:  the upgrade allows investors and professionals to complete and submit pre-incorporation filing documents for new companies via the Portal (https://pre.cac.gov.ng/home) for approval.  Once the application is approved, users can download an electronic certificate of incorporation (E-Certificate) as the CAC would no longer issue physical certificates.
• Post incorporation filings:  the upgrade also allow companies to make changes to their existing information with the CAC via the Portal (https://post.cac.gov.ng/login), including changes to their constitutions, structures and the mandatory annual returns of the companies, amongst others.

Comments 

We commend the CAC for upgrading its registration portal to include additional functionalities that will improve its administrative processes.  This innovation comes on the heels of the publication of the Companies' Regulations, 2021, which encourages the use of technology for service delivery and demonstrates the Federal Government's resolve to automate the processes of its agencies to align with global best practices and improve the ease of doing business in Nigeria.

With the impact of Covid-19 on global administrative procedures, it is imperative that the CAC embraces technology to improve its services and discontinue manual pre-incorporation and post-incorporation procedures.  It is hoped that the CAC's website and online registration portal will continue to remain accessible and closely monitored to prevent system downtime which has plagued such initiatives in the past.  Further, the CAC should ensure that adequate measures are put in place to protect companies' data and guarantee the integrity of corporate information in its custody.

Our dedicated Corporate Secretarial Services Team are available to support you with your regulatory compliance needs, including company incorporation, miscellaneous statutory filings and general regulatory compliance with Nigerian corporate law.

Credits

* This statement was first published in the Issue 1.7/ January 2021 Newsletter of KPMG of Thursday, January 21, 2021. For further enquiries, please contact the author, Wole Obayomi via ng-fmtaxenquiries@ng.kpmg.com

Related News

1. IoD Nigeria Forum: Stakeholders Steer A Pathway For the CAMA Act 2020
2. SCUML Releases New Requirements for Registration
3. CAC Releases Draft Companies Regulations Made Under CAMA 2020
4. Nigeria's Revised Rules on Fin. Assistance: Implications for Corporate Acquisition Transactions
5. FEC Approves National Ethics and Integrity Policy
6. Section 839 of CAMA 2020; The Counter-Argument
7. The Sea is History - the CAMA 2020 Aspires to Optimize Corporate Regulation in Nigeria
8. World Bank Suspends Its Doing Business Report, Investigates Data Irregularities
9. CAMA 2020 Netting Provisions: Game Changer for FMDQ Derivatives and Central Counterparty Agenda
10. CAMA 2020: Snapshot of the Key Amendments to the Act
11. A Regulatory Friendly Business Environment Will Attract More Investments for MSMEs - Ayo Bankole
12. CAMA 2020: Reforming Provisions That Impact The Nigerian Business Community
13. President Buhari Signs the Companies and Allied Matters Bill, 2020
14. Ayokunnu Ojeniyi to speak on EBES, NAP 5.0 and Improving Nigeria's Business Environment
15. ICRC Announces the Commencement of Operations of the NII3P
16. FGN to Hold Stakeholders Consultation Webinar on Highways PPP Program
17. Zainab Ahmed, Fashola To Speak At Turkey-Nigeria PPP Knowledge Webinar
18. Why the ICRC Act is important for effective PPPs' and Enforcing the Sanctity of Contracts - Udofia
19. Ahead of Tomorrow on WebTV: Discussions on Doing Business and Sanctity of Contracts in Nigeria
20. Liquidity and Safety of Staff top Nigeria Businesses COVID-19 Concerns - PwC Survey