Hussaini Magaji, the Registrar General of the Corporate Affairs Commission (CAC), has announced the commission’s intensified efforts to tighten regulation on registered entities to ensure compliance with post-registration expectations. Magaji made this statement during a one-day familiarization event with customers and stakeholders held yesterday in Abuja.
Addressing attendees, Magaji highlighted the importance of enhancing compliance among registered entities, noting a significant gap between the registration process and adherence to post-registration requirements. He emphasized the necessity of implementing robust interventions to establish a reliable legal framework for regulating the activities of registered entities effectively.
Magaji stated, “Since resumption in office, we have been confronted with compliance issues by registered entities. There is a big gap between the registration process and compliance with post-registration expectations.” He further added, “This is why we have put in place several interventions at various stages on this journey to have in place a reliable legal framework, which we collectively gave ourselves to regulate the activities of registered entities. This is because, without regulation, the purpose of having the framework is defeated.”
Furthermore, Magaji disclosed ongoing engagements with software vendors to enhance the functionality of the Companies Registration Portal (CRP), aiming to address challenges associated with delays in service delivery. He emphasized the importance of optimizing the CRP to improve efficiency and streamline processes for customers and stakeholders.
The Registrar General’s remarks underscore the CAC’s commitment to strengthening regulatory oversight and enhancing service delivery in line with its mandate. By tightening regulation on registered entities and enhancing the functionality of the CRP, the commission aims to ensure transparency, accountability, and compliance within the corporate sector.
