The Corporate Affairs Commission (CAC) has registered 76,491 limited liability companies between last July 1 and June this year.

It also registered 91,609 business names and 10,003 incorporated trustees under parts A, B and Act of its Act.

The CAC said it struck off 38,717 companies and liquidated 77 others for not meeting their statutory obligations.

The commission’s Registrar-General, Bello Mahmud, while reviewing its activities in the past year, said company registration activity witnessed progressive increase since the launch of the Companies Registration Portal (CRP).

Bello said CAC has achieved almost all the targets of the National Action Plan set by the Presidential Enabling Business Environment Council towards improving Nigeria’s standing on the global ease of doing business index, especially on business registration timeline.

He said CAC’s collaboration with the Federal Inland Revenue (FIR) on electronic stamping means memorandum and articles of association can be submitted and stamped online, thereby saving customers the stress of physical submission of documents at the stamp duty office.


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