Business registration: CAC vows to block fraudulent applications

The Corporate Affairs Commission says it is ready to block suspected fraudulent applications aimed at registering new companies similar to existing ones trying to take over land belonging to others.

The CAC, in a statement issued on Sunday in Abuja, by its Head of Media, Mr Rasheed Mahe, said that high incidence of applications with names closely similar to existing ones were recorded recently.

The statement quoted the Registrar General of CAC, Alhaji Garba Abubakar, as stating this at a Customers/Stakeholders’ Forum held in Lagos.

Abubakar pointed out that the measure was to further boost the Federal Government’s fight against corruption.

According to him, the commission will continue to remain vigilant to ensure that fraudsters don’t take over other people’s land.

“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.

“In view of the provisions of the law, the commission discontinued the issuance of certified true copies of some documents. Certified extracts had replaced CTCs in accordance with provisions of the law,’’ he said.

Abubakar expressed concern that in spite of 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, adding that it would deploy Customer Relationship Management (CRM) system toward resolving customer challenges 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.

The commission, he sadi, would 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 in accordance with 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 Association of National Accountants (ANAN) and Seun Olaseni of Institute of Chartered Accountants of Nigeria (ANAN) Lagos and District.