17th October, 2021
By Ikenna Uwadileke
The Corporate Affairs Commission (CAC) has resolved to block suspected fraudulent applications to register new companies.
A statement issued on Sunday in Abuja, by its Head of Media, Mr Rasheed Mahe, stated that a high incidence of applications with names closely similar to existing ones was recorded recently.
Alhaji Garba Abubakar, the registrar-general of CAC, pointed out that the measure was to further boost the Federal Government’s fight against corruption.
According to Abubakar, the commission will continue to remain vigilant to ensure that fraudsters don’t take over other people’s lands.
“The commission had upon the commencement of the implementation of CAMA, 2020 invoked the provision of Data Privacy and Protection Act to eliminate incidences of presenting cloned signatures to the CAC for registration purposes.
“Given the provisions of the law, the Commission discontinued the issuance of certified true copies of some documents.
“Certified extracts had replaced CTCs following provisions of the law,’’ he said.
Abubakar said that despite the provisions of the Data Privacy and Protection Act, some customers were still yet to accept the new arrangement which was invoked to amongst others check fraud.
On the ongoing reform initiatives, the Registrar General said the commission was reviewing its checklist for some services.
In addition, CAC will deploy a Customer Relationship Management (CRM) system toward resolving customer challenges in real-time.
While cautioning accredited agents against sharing their access to CAC portals with others to guard against fraud, he revealed that the commission had completed work on the insolvency framework.
According to him, the commission will soon expose the regulation to the public through its website.
Abubakar appreciated the support and cooperation of stakeholders, particularly the Nigerian Bar Association and enjoined customers to continue to cooperate with the Commission as it continues to deliver better services following global best practices.
In a goodwill message, the Vice Chairman of the NBA-SBL, Dr Adeoye Adefulu, applauded the commission’s resolve to organize the forum and urged it to sustain the tempo.
Adefulu emphasised the need for the Commission to ensure regular and continuous engagement with stakeholders as well as enhance its communication strategy for the benefit of both parties.
Speakers at the interactive session include Amb. Ayoola Olukanni, Director-General Nigerian Association of Chambers of Commerce, Mines and Agriculture (NACCIMA) and Monturayo Elegberum from Manufacturers Association of Nigeria (MAN).
Others are Ilori Saburi Daniel from the Association of National Accountants (ANAN) and Seun Olaseni of Institute of Chartered Accountants of Nigeria (ANAN) Lagos and District.