CAC to commence online registration of foreign, diaspora businesses

By The Citizen

The Ministry of Industry, Trade and InvestmentĀ  has said it has concluded plans to ensure that Nigerians in Diaspora and foreigners planning to register their businesses in the country can do so online from any part of the world in the next two months.

The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said this during the 2013 Ministerial Platform by his ministry in Abuja on Tuesday.

The minister explained that the Corporate Affairs Commission had begun the process of ensuring that the 24-hour business registration was achievedĀ  in all states across the country, adding that more states had been covered since the commencement of the initiative in July last year.

He said, 'Since the inauguration of the 24-hour business registration in July 2012; 35,902 companies have been registered within 24 hours. So, far we have achieved a 10 per cent increase in the number of companies registered, and an increase of 33 per cent in business names registered and 42 per cent increase in incorporated trustees

'Currently, the 24-hour business registration process is attainable in Lagos, Abuja, Kano and Kaduna, with Port Harcourt and Enugu following shortly. Also, the global online business registration is to take off in two months' time. This will ensure that anyone can register their businesses in Nigeria from any part of the world, and also make payment without necessarily coming to Nigeria.'

Aganga noted that in line with the Transformation Agenda of President Goodluck Jonathan, the ministry was exploring new ways of unlocking domestic and international capital to boost local and foreign direct investment across all sectors of the economy, adding that the move would create more jobs and generate wealth for the country.