KPMG Commends CAC For Upgraded Company Registration Portals

<p>&nbsp&semi;<&sol;p>&NewLine;<p>KPMG Commends and salutes the innovative upgraded portal of Corporate Affairs Commission&comma; CAC<&sol;p>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that Klynveld Peat Marwick Goerdeler&comma; otherwise known as <strong>KPMG<&sol;strong>&comma; has commended Corporate Affairs Commission&comma; CAC&comma; for complying with federal government’s directives on simplifying business registration and ease of doing business&period;<br &sol;>&NewLine;The global network of professional firms providing Audit&comma; Tax and Advisory services further applauded CAC for including &OpenCurlyDoubleQuote;Additional functionalities that will improve its administrative processes&period;”<br &sol;>&NewLine;Corporate Affairs Commission had announced in a statement that &OpenCurlyDoubleQuote;The upgrade allows investors and professionals to complete and submit pre-incorporation filing documents for new companies via the Portal &lpar;https&colon;&sol;&sol;pre&period;cac&period;gov&period;ng&sol;home&rpar; for approval&period; Once the application is approved&comma; users can download an electronic certificate of incorporation &lpar;E-Certificate&rpar; as the CAC would no longer issue physical certificates&period;”<&sol;p>&NewLine;<p>The statement further emphasized that the upgrade &OpenCurlyDoubleQuote;Also allow companies to make changes to their existing information with the CAC via the Portal &lpar;https&colon;&sol;&sol;post&period;cac&period;gov&period;ng&sol;login&rpar;&comma; including changes to their constitutions&comma; structures and the mandatory annual returns of the companies&comma; amongst others&period;”<br &sol;>&NewLine;However&comma; in a statement of commendation signed by KPMG’s Wole Obayomi and made available to OpenLife Nigeria&comma; the KPMG commends CAC for embracing technology in driving government ease of doing business initiatives and offered to support the commission for <a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">effective service delivery&period;<&sol;a><br &sol;>&NewLine;The tax and advisory services provider’s statement reads in full&colon;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;KPMG commends the CAC for upgrading its registration portal to include additional functionalities that will improve its administrative processes&period; This innovation comes on the heels of the publication of the Companies’ Regulations&comma; 2021&comma; which encourages the use of technology for service delivery and demonstrates the Federal Government’s resolve to automate the processes of its agencies to align with global best practices and improve the ease of doing business in Nigeria&period;<br &sol;>&NewLine;With the impact of Covid-19 on global administrative procedures&comma; it is imperative that the CAC embraces technology to improve its services and discontinue manual pre-incorporation and post-incorporation procedures&period; It is hoped that the CAC’s website and online registration portal will continue to remain accessible and closely monitored to prevent system downtime which has plagued such initiatives in the past&period; Further&comma; the CAC should ensure that adequate measures are put in place to protect companies’ data and guarantee the integrity of corporate information in its custody&period;<br &sol;>&NewLine;Our dedicated Corporate Secretarial Services Team are available to support you with your regulatory compliance needs&comma; including company incorporation&comma; miscellaneous statutory filings and general <a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">regulatory compliance<&sol;a> with Nigerian corporate law&period;”<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;