FG has made NIN Compulsory for CAC Business Registration in Nigeria.
IDOMA VOICE reports that the federal government has disclosed that without the National Identification Number (NIN ), Nigerians would no longer be able to register businesses.
This was disclosed by the registrar of the Corporate Affairs Commission (CAC), Alhaji Garba Abubakar, on Monday in Abuja during the monthly reform seminar organised by the Bureau of Public Service Reform (BPSR).
He noted that the necessity is to verify the integrity of the data they are collecting.
Abubakar, at the lecture, themed: ‘Current Reforms, Innovations and Challenges of the Corporate Affairs Commission, and Their Impact on the Growth of Nigerian Economy’ said:
For security purposes: He added that the CAC opted for NIN because its security can’t be compromised, unlike the National Identity card, passport, and driver’s license, which could easily be cloned.
He added that the act has also introduced limited partnerships and limited liability partnerships, which now provide additional options for entrepreneurs and law firms.
He also noted that with the coming of the act, the CAC registration portal was completely rebuilt to allow companies to transact on it from anywhere.
The CAC boss stated that they have commenced a mailing system for customers to process their registration in order to reduce physical contact with staff.
For the record: Nairametrics reported earlier that the Corporate Affairs Commission announced the launch of a Beneficial Ownership Register (BOR) platform, which they said would be beneficial in strengthening the Buhari administration’s fight against corruption.
The CAC explained that the platform will make it easy to search for information on persons with significant control (PSC).
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