Nigerians can now register their businesses via a single form – CAC

The Corporate Affairs Commission (CAC) has consolidated the forms required to register a business in Nigeria, reducing the number from seven to one.

This was revealed by Garba Abubakar, the special adviser to the commission’s registrar-general of the commission, at the Lagos stakeholders forum of the Enabling Business Environment Secretariat (EBES).

“We now have just one form which has been deployed this week. It contains all the information you need to register and is available for download on the CAC website. This reduces the cost and time needed to register a business,” Abubakar said.

Abubakar said the CAC would ensure that business owners are able to upload documents electronically as part of its deliverables in the 60-day national action plan on Ease of Doing Business in Nigeria.

The Lagos stakeholders forum was the second in two days by EBES, following Thursday’s forum in Kano.

According to Jumoke Oduwole, the coordinator of EBES, the forums are designed to inform private stakeholders about government’s efforts to ease the business environment; share details on the action plan; and receive feedback to report back to the Presidential Enabling Business Environment Council (PEBEC).



She pointed out that an example of the feedback process at work was the unscheduled visit on Thursday by Acting President Yemi Osinbajo to the Murtala Mohammed International Airport, Lagos, based on EBES feedback.

“Our vision is a dramatic improvement in Nigeria’s business environment over the next three years to a top 100 ranking in the World Bank Doing Business Report, with increased cross-border trading, increased productivity across key economic sectors and an improved business environment that is attractive to both domestic and foreign investors,” she said.

The two forums in Kano and Lagos were well attended by government officials, heads of MDAs and private sector players who interrogated and interacted with officials, offered advice and aired grievances.

Speaking at the Lagos forum, Okechukwu Enelamah, the minister of industry, trade and investment, said the renewed push to ease the business environment was due to the realisation that “every country that has gotten it right has enabled businesses. It is the most sustainable long term way.”

The state governments involved, highlighted reform efforts in their states especially as regards getting construction permits and registering properties, which are under their purview.

“In Lagos, getting governor’s permit now takes less than 30 days. Quote me anywhere,” Wasiu Anifowoshe, commissioner of physical planning and urban development, said.

Some other reform initiatives announced at the forums include the CAC upcoming reform that will allow business owners to get e-stamps for stamp duties without the need to visit the offices of the Federal Inland Revenue Service (FIRS).

On its part, the FIRS said Tax Identification Numbers (TIN) can now be gotten when registering businesses at the CAC without having to visit its offices.

Other facilitators at the event include Yewande Sadiku, the executive secretary of the Nigerian Investment Promotion Council (NIPC) and Jameelah Ayedun, the MD of CR Services.

There were also officials from the Federal Inland Revenue Service (FIRS), Nigeria Electricity Regulatory Commission (NERC), Eko Distribution Company, the National Collateral Registry, Nigeria Ports Authority (NPA), Nigeria Customs Service (NCS), amongst others.

The forums were anchored around the seven priority reform areas of EBES; starting a business, getting credit, trading across borders, getting electricity, construction permits, paying taxes and registering property.

VIDEO: South Africans Attacked, Looted Nigerian Businesses Yet Again – Union

The Nigerian Community in South Africa have confirmed attacks and looting of Nigerian-owned businesses in Pretoria West yesterday.

President, Nigeria Union, Mr. Ikechukwu Anyene, told the News Agency of Nigeria (NAN) on telephone from Pretoria, South Africa, that the attacks began at 4.00am. He said the union had reported the incident to the Nigeria mission and South African police.

“As we speak, five buildings with Nigerian businesses, including a church have been looted and burned by South Africans. One of the buildings is a mechanic garage with 28 cars under repairs, with other vital documents, were burned during the attack. Also, the pastor of the church was wounded and is in the hospital receiving treatment,” he said. Anyene said the union had informed Nigerians in South Africa to be vigilant in the face of renewed xenophobic attacks.

According to him, the union received information that there will be xenophobic attacks against foreigners on Feb. 22 and Feb. 23. “We began taking precautionary measures when the incident took place today (yesterday). The attack in Pretoria West is purely xenophobic and a criminal attack because they looted the shops and homes before burning them,” he said.

Anyene called on the Federal Government to persuade its South African counterpart to protect Nigerians in their country. “These attacks should not be allowed to continue because it is a big setback,” he said.



Source: ThisDay

Tony Elumelu to give 1,000 young Africans $5,000 each — to start businesses

The Tony Elumelu Foundation (TEF), one of Africa’s largest business incubators, is now accepting applications from African entrepreneurs with business ideas that can transform the continent.

The application portal is open and accepting submissions until midnight WAT on March 1, 2017.

Successful applicants will join the third cycle of the TEF Entrepreneurship Programme, TEF’s 10-year, $100-million commitment to train, mentor and fund 10,000 African entrepreneurs in every African country.

Since inception in 2015, the programme has assisted nearly 2,000 entrepreneurs and created hundreds of jobs across the continent.

The programme is said to provide critical tools for entrepreneurial success, including:

• Training: 12 weeks of intensive training on setting up and managing businesses
• Mentoring: A mentor will guide successful applicants in creating a robust business plan
• Seed Capital: $5,000 in non-returnable seed capital and access to a $5,000 convertible loan

According to Tony Elumelu, TEF Founder, the programme is a deliberate effort to institutionalise luck and provide the essentials for business growth to Africa’s next generation of business leaders.

“It is a demonstration of my faith in this generation’s ability to transform the African narrative, from the single story of disease and poverty, to one of enterprise and opportunity,” he said.

“Spread the word; we need Africa’s best and brightest entrepreneurs. Their ideas will transform Africa.”

One thousand entrepreneurs will be selected based on the viability of their idea, and other factors, such as: market opportunity, financial understanding, scaleability, and leadership and entrepreneurial skills demonstrated in the application.

To be eligible, business must be based in Africa, must be for profit, must be 0-3 years’ old, and applicants must be at least 18 and a legal resident or citizen of an African country.

“We encourage women, French, Arabic and Portuguese speakers and business ideas from every region across Africa, to apply,” Parminder Vir, CEO of the foundation, said.

“Our 2,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you.”

Nigerians No Longer Need Lawyers to Register Their Businesses – CAC

The Registrar-General of the Corporate Affairs Commission (CAC), Bello Mahmud, has said Nigerians no longer need a lawyer to register their businesses with the commission.

He said on Thursday at the second presidential economic communication workshop in Abuja.

Mahmud stated that the commission had made the process of registration easier as entrepreneurs can register by themselves at their offices.

“We have reduced the cost of registering a business by 50 percent. You don’t need a lawyer to register your business for you anymore.

“You can ?now do it yourself. The process is easy now.

?”You can now register your business anywhere at our offices in Lagos, Kano and Enugu,” he said.

Xenophobia: Malawi To Close All South African Businesses Today

The Malawi government has resolved to close all south African owned businesses today, the 24th of April. The decision is not unconnected to the ongoing Xenophobic massacre in South Africa, where two Malawians were killed..

However, after 390 Malawians were resuced from south African two days ago, the government has decided to for now place embargo on South African companies such as ShopRite, Games ,PEP among others operating in the country. The decision according to report will take effect from today.

Read More: dailypost