The Federal government has disclosed that Nigerians would no longer be able to register businesses without the National Identification Number(NIN ).
The registrar of the Corporate Affairs Commission (CAC), Alhaji Garba Abubakar, disclosed this in Abuja on Monday during the monthly reform seminar organised by the Bureau of Public Service Reform (BPSR).
“if you don’t have a NIN, it means you can’t register your company, The essence is to verify the integrity of the data we are collecting,” Abubakar said, while speaking at a lecture session themed ‘Current Reforms, Innovations and Challenges of the Corporate Affairs Commission, and Their Impact on the Growth of Nigerian Economy.’
He noted that registered company’s should also file their returns.
He noted that, ”we register an average of 2,000 companies every week. But it’s not just enough to register, you have to file your returns.
”As it stands, one man can register and own a company and if he is dead his children can take over for as long as the company is surviving and there are interests.
“In fact, before now, many people were forced to register their companies with a second party just to fulfil legal requirements, but with CAMA, all that is in the past.”
He added that, the Act has also introduced limited partnerships and limited liability partnerships, which now provide additional options for entrepreneurs and law firms.
Abubakar also said that registering a company can now be done from any part of the world.
“Now from anywhere in the world, you can register your company; all you need is to create an account, whether individual or corporate. After all the processes, we will send your certificate to you,” he assured.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.