• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, June 4, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

CAC advises public on business registration

CAC

The Matters Press by The Matters Press
December 18, 2023
Reading Time: 2 mins read
0
CAC, Pakistani investors on economic diversification

Abuja, Dec. 18, 2023: The Corporate Affairs Commission (CAC), has advised the public to desist from opening /registering businesses that they had no immediate intention of translating into action.

RELATED POSTS

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

IMPI urges media to consider national interest in reporting security challenges

The Director of Compliance, CAC, Mr Justine Nidia, gave the advice on Sunday and said the commission does not encourage people to go ahead and register companies when they had not developed any business idea that would translate into action.

“It is not advisable to register a company and keep it in your briefcase because that is not helpful to the economy,” he said.

According to the director, such companies are termed shelf companies and are discouraged from being kept in the register of companies of CAC; thus, they are delisted.

“The idea of delisting companies is that we should not be seen encouraging shelf companies.

“By shelf companies, we mean registered companies that are redundant or dormant; they are not doing anything.

“So they do not have to be on the register of companies. The appropriate thing to do is to remove them or strike them off the register,” Nidia said.

He said the commission had published an initial list of about 100,000 companies to be delisted.

“We gave an initial period of 90 days, which has elapsed, to those who think they will still be in business to file annual returns for them not to be delisted.

“After the initial publication, about 5,000 companies responded to file their annual returns, with the remaining approximately 95,000 to be delisted.

“What we have done recently is to issue another publication, requesting companies that have filed their returns, and their names are still on the list to get back to us with evidence.

“So we do not delist a company that already filed its return. So we have given an additional period of one month, after which we will gazette the final list,” Nidia said.

The CAC director commended the efforts of the present government led by President Bola Tinubu for ensuring a conducive atmosphere for businesses to thrive in the country.

Nidia said the commission in line with Tinubu’s mandate, developed a four-point agenda to drive the affairs of CAC.

”The strategic direction contained in the renewed hope agenda informed the need to formulate my four-point agenda aimed at repositioning the commission for greater productivity.

“The four-point agenda is diversification of revenue base, enforcement of compliance, promotion of industrial harmony, and improvement of human capital,” he said.

Tags: CAC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Next Post
Economists Challenge IMF on call for further VAT increase in Nigeria

World Bank, IMF projection on Nigeria’s economy excites expert

Dangote Fertilizer in gas supply deal

Port Harcourt refinery ready in December, NNPCL assures Nigerians

Recommended Stories

Ajay Banga Selected 14th President of the World Bank

World Bank new chief wants better lending institution

June 18, 2023
Free Trade Zones: Nigeria increases licence validity period

Free Trade Zones: Nigeria increases licence validity period

March 10, 2022
Jumia grows profit by 6% in Q3 – Official

Jumia Foods, Domino’s Pizza partner to enhance customer experience

December 14, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,
  • IMPI urges media to consider national interest in reporting security challenges

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us