CAC registered 91,609 business names in one year

At least 91,609 business names, 76,491 limited liability companies, and 10,003 incorporated trustees were registered between July 2016 and June 2017 by the Corporate Affairs Commission (CAC), under its enabling Act, the Registrar-General, Bello Mahmud has said.

According to the CAC’s helmsman, since the launching of the Companies Registration Portal (CRP) on February 2, 2015, company registration activities had witnessed progressive increase and improvement, adding that the feedbacks from customers and stakeholders have facilitated improvement in its service delivery, which the Commission is committed to providing.

Mahmud also said about 38,717 companies were disqualified, 77 liquidated, 278 applications slated for winding-up, while 73 notices of appointments of Receivers were recorded, following post-incorporation applications received and registered by the Commission during the period under review.

He added, “Similarly, 672 companies notice of changes, eight notice of reduction in Share Capital, 2,441 notice of increase in share Capital as well as 697 notice of change of names were received and registered by the Commission in the period under review.”

Photo Caption: Corporate Affairs Commission (CAC) Logo