The cost of Business Registration in Nigeria is now cheaper and the process of registration has been simplified to enable small entrepreneurs register their businesses. This was disclosed by the Registrar-General, CAC Mr. Bello Mahmud at the MSME Clinic held at Uyo the Akwa Ibom State Capital.
Addressing Micro, Small and Medium Enterprises in Uyo, Mr. Mahmud re-iterated that with the Company Registration Portal (CRP), any member of the public can now register his or her business on-line at the comfort of their homes and offices.
He said that members of the public were free to either utilize the CRP or come directly to CAC offices nationwide for registration of their business. This according to him has drastically reduced the registration cost hitherto charged by professional middlemen (Lawyers, Accountants, and Chartered Secretaries), in the registration process.
Mr. Mahmud also reminded Entrepreneurs who had already registered their businesses of the obligation to file Annual Returns with the Commission as and when due. He disclosed that failure to file Annual Returns could result to Striking-off of such defaulting entities on ground of dormancy.
The MSME Clinic in Uyo which was held amidst fun-fare coincided with the 30th Anniversary of the creation of Akwa-Ibom State. Mr. Mahmud congratulated the Government and people of Akwa-Ibom state on the occasion of its 30th Anniversary.
He commended the existing cordial relationship, between the Commission and the State Government.
The MSME Clinic is an initiative of the Office of the Vice President which is aimed at holistically addressing all the operational challenges and bottlenecks of Micro, Small and Medium Enterprises in Nigeria.
The CAC is one of the critical Government agencies that has been participating in the on-going nationwide MSME Clinic that commenced in Aba, Abia State in January 2017, and is expected to be held in all States of the Federation. So far, the Clinic has been held in 13 States of the Federation.
In his address, The Vice President, His Excellency, Prof. Yemi Osibanjo, SAN reiterated that the on-going nationwide clinic was to ensure that all operational challenges ranging from registration, licensing, financing and regulation of the MSMEs were comprehensively addressed to enable the subsector contribute its quota to economic development through job and wealth creation.
Other relevant agencies like Federal Inland Revenue Service (FIRS), Standards Organization of Nigeria (SON), Bank OF Industry (BOI), National Agency for Food and Drug Administration and Control (NAFDAC), Industrial Training Fund (ITF), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), participated in the Clinic at Uyo.
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