LP, LLP Business Registrations to be Available Soon—CAC

August 23, 2021

By Modupe Gbadeyanka

Nigerians would soon be able to take advantage of the two new forms of business registrations introduced in the Companies and Allied Matters Act (CAMA) 2020, the Corporate Affairs Commission (CAC) has disclosed.

The Registrar General of the CAC, Mr Garba Abubakar, disclosed at a meeting last week that the new business forms would be available for business owners by the end of August 2021.

In the CAMA 2020, entrepreneurs were given additional options of registering their ventures as Limited Partnership (LP) or Limited Liability Partnership (LLP).

But since the law made provisions for these forms of business registrations, Nigerians have not been able to register their businesses under the new options.

At a stakeholders’ forum in Port Harcourt, Rivers State, Mr Abubakar said his agency was tidying the process for it to be seamless.

He further said CAC was making arrangements to deploy a Customer Relationship Management (CRM) software in 2022 to interact with customers and resolve their challenges 24 hours a day.

Mr Abubakar noted that all but two forms of post-incorporation filings were now available online 24 hours a day on the company registration portal, stressing that the commission no longer entertains filing of share transfer as it was alien to the law.

He added information on Person with Significant Control (PSC) was available free of charge on the CAC website in line with global anti-money laundering requirements.

On the concerns raised by Nigerians over the denial of certain names for registration, the Registrar General maintained that while some of such rejected names had security implications, others were deceptive or abstract, advising customers to always provide fully qualified names that equally agree with objects of the association or organisation applying for registration.

While acknowledging the challenges of some customers while interacting with the CRP, Mr Abubakar enjoined users to always read guidelines for registration made available on the website in addition to leveraging on the multimedia provided to aid user ability.

He, therefore, reiterated CAC’s resolve to continually improve its processes and ensure timely resolution of customer complaints.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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