CAC targets registration of 20 million new businesses to grow economy

The Corporate Affairs Commission (CAC) on Friday said its goal for the year 2024 is to register 20 million new businesses for the growth of Nigeria’s economy.
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CAC Registrar-General/CEO, Hussaini Ishaq Magaji (SAN) revealed this while receiving the Lagos State Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medembem, on a courtesy call to his office.

The Commission also unveiled plans to roll out a host of services for its valued customers to ease ways of doing business in Nigeria.
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Magaji who had just marked 100 days in office said services that include same-day registration premium service, same-day company status update and same-day filing of annual returns, amongst others, will soon be available for customers.

He also said that the Commission was working hard to check the proliferation of illegal businesses without registration.

Magaji added that CAC will take these steps as stipulated under the provisions of Section 863, Subsections 1 and 2, of the Companies and Allied Matters Act, CAMA 2020.
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