Membership: ACCI to partner CAC on companies incorporation

Membership: ACCI to partner CAC on companies incorporation.

The Abuja Chamber of Commerce and Industry Nigeria (ACCI) is seeking partnership with the Corporate Affairs Commission (CAC) to ensure that all companies become members of a Chamber of Commerce at the point of incorporation.

The ACCI President, Dr Al-Mujtaba Abubakar made this known during a courtesy visit on the Registrar General of CAC, Alhaji Garba Abubakar in Abuja.

According to him, the first stage of the campaign is to make it optional and subsequently mandatory when Nigeria legislates on that in line with global best practices.

Al-Mujataba said that such policy existed in Europe, Middle East and South Asia with host of advantages including easier implementation of financial interventions for companies, inclusive consultation, post registration monitoring and partnering.

He said other benefits were ensuring expansion of tax base and enforcement of compliance, easy annual reports, tracing and tracking of companies involved in import or export businesses as well as easy verification of local partners by international investors.

Responding, the Registrar General of CAC, Alhaji Garba Abubakar commended the ACCI’s proposal, saying it had enormous potential to improve the nation’s economic growth.

While acknowledging the strategic role played by chambers of commerce toward the development of economies across the globe, the registrar general revealed that in some jurisdictions, they operated like company registries.

Abubakar pledged to study the ACCI’s proposal within the ambit of the law with a view to implementing it for Nigeria’s economic growth.

The highlight of the visit was the submission of the draft proposal by the ACCI to CAC.