Senior Special Assistant to President Muhammadu Buhari on Industry, Trade & Investment, Dr. Jumoke Oduwole has said registering a new company in Nigeria can now be done online and within 24 hours provided all procedures and requirements are met.
Oduwole said this while speaking at the one-day sensitization summit organized by the Corporate Affairs Commission (CAC) in Lagos.
According to her; “This is a far cry from the 10 or more days it used to take in the past, which has resulted in significant time and cost savings.”
The summit was part of the Presidential Enabling Business Environment Council’s (PEBEC) 60-day National Action Plan 2.0 which was launched on the 3rd of October.
According to Dr Oduwole, the Enabling Business Environment Secretariat has been supporting the Corporate Affairs Commission to enhance efficiency in the process of business registrations.
She added that it led to the CAC simplifying its processes by condensing multiple forms previously required for registering a company into a single form – the CAC Form 1.1.
Manual registration portals have also been closed in Abuja, Kano, Kaduna, Port Harcourt and Enugu, after it was closed in Lagos.