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CAC, FIRS partner on e-stamping module
The Corporate Affairs Commission (CAC) has entered a partnership with the Federal Inland Revenue Service FIRS to ensure the integration of stamping module into the commissionâ€™s Company Registration Portal (CRP).
In a statement obtained by The Nation, the Commission said the Company’s Registration Portal (CRP) is aimed at creating seamless registration process and further reduce time and cost of registration of companies and other post incorporation process in the country.
In the statement which reads in part, it said: â€œThe Commission in discharging its responsibility has evolved through several stages or era in its existence up till where it is today. The different portals include Companyâ€™s Registration Portal (CRP). Due to the numerous limitations of the content pinnacle software, the Commission decided to initiate the process of developing any other software which will not only eliminate all the limitations, but will also place the Commission in its rightful place as a world class companyâ€™s registry true to its mission statement.â€
Besides, with this software the Commissionâ€™s customers do not have to physically visit the Commission any longer as they can apply for any of the services online and in real time at any time of the day and any day of the week from the comfort of their homes or offices. Since the launch of the (CRP) on the 2nd of February 2015, the Commission has commenced full online services for name reservation and registration across the three parts, part A- companies, part B- Business names and part C- Incorporated Trustees.
The name reservation and registration, the Commission said, can be done online real time anywhere in the world.
â€œIf you already have a name reserve you can apply and make payment for registration of a limited liability company, business names, and incorporated trustees while seated in your house or office. Though customers still have to download the incorporation documents for signing by the subscribers, directors before they subsequently submit the same to the Commission. This is a temporary arrangement and it is expected to end when document archival system is fully introduced in the portal.â€
As at 14th August 2015 the following transaction have been done directly on the new portal. Account creation, public users -25,217, accredited customers â€“ 860, name search- 67,190, registration: Limited liability companies 5,977, business names, 2,751, Incorporated Trustees â€“ 456.
The Commission is making arrangement to create log in details for each company that is registered by it. This log in details will ensure that only authorized persons have access to the companyâ€™s profile to enable them make changes in the company details in the portal.
The Registrar General, CAC, Bello Mahmud said the Commission is putting in place measures to create log in details for each company that is registered by it.
Besides, he said the new measures will ensure that only authorized persons have access to the companyâ€™s profile to enable the operators make changes in the portal.
Such changes, according to the CAC boss, would include change of directors, appointment of secretaries and increase in share capital. The objective is to ensure that only the rightful people make changes to the companyâ€™s records.
He said: â€œFrom the CAC inception in 1990 â€“ 2004 the commissionâ€™s activities were manually done, while the post 2004 era witnessed automated of its services through the (CAC) online but with some limitation in user ability. The third phase which involved the deployment of a new software the companyâ€™s registration portal has eliminated all the limitations and has commenced full online services for name reservation, registration of companies, business names and incorporated trustees.â€
The measures, Mahmud emphasised: â€œWill ensure that â€œCustomers can stamp their names on the (CRP) after completing their forms without manually taking them to the stamp duties office of the Federal Inland Revenue Service. The company registration portal when fully developed will serve as a one stop companyâ€™s registration software capable of handling the stamping of incorporation documents, some post incorporation filing and other matters. The (CRP) has also eliminated the time of the day and day of the week to do business with the commission, adding that customers can submit their registration applications at any time including weekends and public holidays.â€