The cost of registration of businesses with the Corporate Affairs Commission (CAC) has been reduced and the processes simplified.
This was disclosed on Tuesday by the Registrar-General of the Commission, Bello Mahmud, while addressing the Micro, Small and Medium Enterprise Clinic in Abuja.
He said the new policies are to enable small-scale entrepreneurs register their businesses and allow for ease of doing business.
According to him, with the Company Registration Portal, any member of the public could now register their businesses online in the comfort of their homes and offices.
“This has drastically reduced the registration cost hitherto charged by professional middlemen (lawyers, accountants and chartered secretaries), in the registration process.
“Entrepreneurs who had already registered their businesses have the obligation to file annual returns with the Commission as and when due.
”Failure to file Annual Returns will result to striking-off of such defaulting entities on ground of dormancy.
”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 MSME in Nigeria,” Muhmud said.
According to him, the commission is one of the critical government agencies that has been participating in the on-going nationwide MSME Clinic that commenced in Aba in January.
He added that the MSME Clinic was expected to be held in all states of the federation.
“So far, the Clinic has been held in 13 states of the federation,” he said.
According to him, other relevant agencies like FIRS, SON, Bank Of Industry, NAFDAC, SMEDAN participated in the clinic.