Economic Confidential

Minister of Trade and investment, Mr. Olusegun Aganga has launched the Corporate Affairs Commission’s (CAC) ``start to finish 24-hour incorporation service” at a ceremony in Lagos.
The Minister, who also inaugurated the Lagos office of the agency at Alausa, said the step was part of government’s efforts to improve investment climate in the country.
Aganga, while lauding the achievement of 24-hours business registration said that the business registration target in the country was for two hours.
``The target is to ensure that companies are registered within two hours; that is where we are going and to institute vibrant and transparent companies’ registry where services will be user-friendly.’’

He said that the aim was also to make it easier for anyone who wanted to set up business in Nigeria to go online and register anywhere in the world.

``What we have delivered is to make the business registration possible for any potential investors online from anywhere across the world.

``The step will definitely attract foreign investors and to attract foreign investors into the country involves making business registration a lot easier for any potential investor to register online.’’

Aganga, however, ordered complaint registers to be opened for customers to make the 24-hour business registration effective, adding that he would receive complaint registers on the quarterly basis from the commission.

“To show that we mean business and care about our stakeholders and customers, I’m going to direct today that this office and the other ones open a complaint register for anyone who is unable to get his business registered within 24 hours.

“It means that we are ready to be open, transparent and accountable to the Nigerian people. If there is any reason we can't do that we will explain and look into it.”

The Registrar General of CAC, Alhaji Bello Mahmud, said that in its efforts to actualise its ICT thrust, the commission embarked on a total upgrade of its WAN from VSAT-based network to a more reliable fibre-based system.

He said that the move was meant to improve availability and enhance transaction.

He said that a pilot scheme had been undertaken in some key places, including the newly inaugurated Lagos office.

Mahmud said that the commission had concluded plans to link 32 states offices so that they could operate at par with the head office and enable them to accept documents and process same up to certificate generation.

He said the commission had also embarked on total upgrade of its registration software through the provision of robust customers pay and get services of the commission without having to be there physically.