JOS – The Head of the Jos Office of the Corporate Affairs Commission (CAC), Mr Mustapha Dogondanji, says applications for registration of companies can now be done directly by business owners or first directors.
Dogondanji made the announcement yesterday in Jos, during an enlightenment campaign on direct registration of businesses at a private dialogue, organised by a body, Growth and Employment in States.
He disclosed that until January 2012, only lawyers, chartered accountants and chartered secretaries were eligible to present applications to CAC for registration of companies under Part “A” of the Companies and Allied Matters Act.
Dogondanji said that the policy, however, attracted a lot of criticism from local and international fronts, as it was perceived as a major contributing factor responsible for the huge cost of starting a business in Nigeria.
He said the policy was also responsible for the negative rating of Nigeria in the global competitiveness index.
According to him, in a bid to improve Nigeria‘s rating, the Federal Ministry of Industry, Trade and Investment, made a policy which now allowed business owners or first directors to directly apply for the application.
He said the policy was principally targeted to benefit Small and Medium Entrepreneurs who might not afford the services of accredited agents.
Dogondanji said that the policy was expected to encourage informal businesses to register and in the long run deepen access to finance for those classes of businesses.
According to him, the Federal Government recently reduced the filing fees payable for new companies.
He called on business owners who are yet to register their businesses to do so as business registration has a lot of benefits.
He cited the benefits of registration to include access to government funds, eligibility to open and operate a corporate account, biding for and securing of contract and application for business visa.