The Corporate Affairs Commission (CAC) has commenced the process of striking off 100,000 companies from Nigeria's corporate register over their failure to comply with statutory filing obligations. The exercise, announced in a public notice issued on Wednesday, is in line with Sections 692 (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020, …
The Corporate Affairs Commission (CAC) has uncovered 248 fake companies and reported them to the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution. Registrar-General Hussaini Magaji (SAN) disclosed this on Tuesday in Abuja during an Anti-Corruption Day event marking the Commission’s 35th anniversary. He also accused some banks of weakening Nigeria’s corporate compliance …
Kwara State Governor AbdulRahman AbdulRazaq has confirmed the release of 38 worshippers abducted during last week’s attack on the Christ Apostolic Church (CAC), Eruku, in Ekiti Local Government Area. The victims were freed on Sunday after several days of coordinated operations involving security agencies and federal authorities. In a statement by his Chief Press Secretary, …
Bandits who abducted about 35 worshippers from the Christ Apostolic Church (CAC) in Eruku, Ekiti Local Government Area of Kwara State, have reportedly demanded N100 million ransom for each victim. The attack occurred on Tuesday evening, during a church service, when gunmen killed some worshippers and abducted others. A live-streamed video captured the service as …
The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have unveiled a nationwide initiative to provide free business registration for 250,000 nano, micro, and small enterprises. The scheme, announced in Abuja during the signing of a Memorandum of Understanding between the two agencies, aims to ease the burden …
The Federal Inland Revenue Service (FIRS) has dismissed claims that Nigerians must present a separate Tax Identification Number (TIN) to open or operate bank accounts. Arabinrin Aderonke Atoyebi, technical assistant on broadcast media to the FIRS chairman, Zacch Adedeji, said Nigeria’s tax framework now integrates with existing national registries. This approach, she explained, makes individuals …
A company’s Corporate Affairs Commission (CAC) certificate does not give it the right to collect or manage people’s money. That was the strong warning from Dr Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), as Nigeria battles a surge in Ponzi schemes disguised as legal businesses. “Being registered by CAC doesn’t mean you’re …
