The Federal Government on Thursday said the
Corporate Affairs Commission would from October
1 this year, begin electronic registration for
companies willing to set up businesses in
Nigeria.The Minister of Industry, Trade and
Investment, Mr. Olusegun Aganga, disclosed this
in Abuja while addressing journalists during the
quarterly meeting of the ministry and its
parastatals.All heads of parastatals under the
ministry were present at the meeting which was
held to review progress so far made in the
implementation of the federal government’s
policies as well as to discuss some of the
challenges by the ministry.Aganga said the online
registration would help to reduce the cost of
doing business significantly as well as the time it
takes for local and foreign investors to set up
their businesses.He said, “We are hoping to have
electronic registration of companies and this will
commence from the first of October this year.“We
hope to ensure that from that date, Nigerians
would no longer have to incur other extra costs
and inconveniences to travel to CAC office to
register and wait for a long period of time before
they register their business.“That will bring the
cost and the time of setting up businesses down
significantly in this country. This is the first time
ever that Nigeria will have an online electronic
system.”He also said that the Nigerian Industrial
Revolution Plan is being implemented effectively
adding that five new policies would soon be
unveiled for the steel, textile and garments, palm
oil and vegetable oil, cocoa processing, and
petro-chemical sectors.The minister said that the
federal government had commenced a pilot
programme that would help farmers to borrow up
to 75 per cent of their commodities with the Abuja
Securities and Commodity Exchange.


http://www.punchng.com/news/electronic-registration-of-companies-begins-oct-1-fg/?utm_source=twitterfeed&utm_medium=twitter