Corporate Affairs Commission
Minister: Why Twitter, other platforms must register to operate in Nigeria
The Federal Government says its directive that Over the Top (OTT) and social media platforms operating in the country must register and obtain license to operate is in conformity with global trend. The Minister of Information and Culture, Alhaji Lai Mohammed, said this on Friday when he featured on Nigerian Television Authority (NTA) programme “Good Morning Nigeria’’ monitored by newsmen. NAN reports that the Federal Government recently suspended operations of Twitter and directed that all OTT and social media platforms operating in the country must register with Corporate Affairs Commission. The Federal Government said they must also apply for licensing with the National Broadcasting Commission ( NBC). NAN reports that OTT media service is a media service offered directly to viewers via t...
Presidency: One million Nigerians benefitting from survival fund
The Presidency yesterday said that over one million Nigerians have so far benefitted from the Survival Fund scheme under the Federal Government’s Economic Sustainability Plan (ESP). The Presidency said there are 500,000 beneficiaries from the MSMEs Payroll support track, 44,500 under the one-off General MSME Grant, and another 265,425 under the artisan support track, among others. Recall that payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant had commenced at the end of April. A statement by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, in Abuja last night explained that so far, under the ESP there are currently over one million beneficiaries nationwide from the various schemes...
May Day: President Buhari promises workers better packages
President Muhammadu Buhari has assured workers of better packages to cushion economic effects of COVID-19 on their resources. The President said his administration has put in place some socio-economic policies to alleviate poverty. Buhari said the Federal Government has expanded the Conditional Cash Transfer for the vulnerable poor from 2.6 million households to 7.6 million. He also noted COVID-19 Rapid Response Register has been expanded for urban poor to 4.8 million households, which included urban poor and working class. The President spoke during this year’s May Day celebration at the Eagle Square on Saturday in Abuja. This year’s celebration had as its theme: “COVID-19 pandemic, social and economic crisis: challenges for decent jobs, social protection and people’s welfare”. Buhari, wh...
Court restrains ALGON faction, others from interfering in association’s affairs
An Abuja Federal High Court has restrained the chairman of Bariga Local Council Development Area (LCDA), Hon. Alabi Akolade David-led faction of the Association of Local Governments of Nigeria (ALGON) from parading its as the leaders of the association. The court also ordered the faction from taking all further action, steps, proceedings and assembly, relating to the conduct of of ALGON’s General Assembly slated for March 24, 2021, or any other day during the pendency of the suit. Other parties restrained by the court order include the Attorney-General of the Federation (AGF) Abubakar Malami, Inspector General of Police and one Mrs Binta Abdullahi Bello from interfering in the affairs of ALGON. The order followed the adoption of a motion ex-parte deposed to by Mohammed Inulin Abubakar on b...
CAC aims to register new company within three hours
The Corporate Affairs Commission (CAC) says it will be possible for companies in Nigeria to be registered within three hours, before the end of 2021. The commission tweeted this on Sunday via its verified Twitter handle. It said, Garba Abubakar, the commission’s registrar-general, gave this indication at a recent dinner in honour of the chairman, governing board, CAC and Nigeria’s Ambassador-designate to Spain, Ademola Seriki. The commission announced last December the upgrade of its online registration portal for business. It said the upgrade would include features that allow the automation of key services and processes in line with the federal government’s effort to Nigeria’s ease of doing business. Newsmen had reported how the new regulation protocol has left businesses in the country s...
Commodities trading: SEC issues new rules on warehousing, collateral management
File Photo In a bid to ensure a vibrant commodities trading ecosystem, which would in turn boost foreign exchange earnings for the country, the Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management, among others. According to the rules, every warehouse that stores commodities to be traded on a registered exchange shall apply to be registered by the SEC, while the commission shall maintain a register of all registered warehouses to be published on its website. The new rules also provide that any warehouse applying for registration shall submit proof of ownership or registered-lease deed or rent agreement, alongside a disclaimer from the owner of the warehouse/property providing waiver of ownership regarding commodities stored in such ...
Lai Mohammed: My only regret as minister
Nigeria’s Minister of Information and Culture, Lai Mohammed, has said his only regret as a minister is that some Nigerians have failed to appreciate that the administration of President Muhammadu Buhari is doing so much with little resources. Mr Mohammed stated this at a Special Forum of the News Agency of Nigeria (NAN) in Abuja. He said with dwindling resources, no government in the history of Nigeria has implemented programmes alleviating poverty among women and vulnerable groups as well as created jobs for the youth as the Buhari administration had done. The minister said his regret was that some Nigerians have failed to appreciate the efforts of the government but keep celebrating negative developments. “My regret in this government is that Nigerians have failed to appreciate that the ...
NIMC insists on deadline for linking of NIN to mobile numbers
File Photo Despite criticisms from many Nigerians of the two-week ultimatum for the registration and linking of National Identity Number (NIN) to mobile numbers, the federal government has insisted on the deadline. The director-general of the National Identity Management Commission, (NIMC), Aliyu Abubakar, in an interview with newsmen on Friday said there was no extension for the announced deadline. “Right now, the way it is, there is no extension. We should not be complaining, rather we should see how it can be done,” he said. “It is until after 10 to 12 days then we will see how far it has gone before we beg the government for anything.” When the agency issued a two-week ultimatum for the enrolment, Nigerians took to social media platforms to kick against such a deadline. “In the whole o...
CAC withdraws registration of ‘Enough is Enough’
The Corporate Affairs Commission, CAC, Tuesday cancelled the registration of the Business name ‘Enough is Enough’ with immediate effect. The commission disclosed this on its Twitter handle, @cacnigeria1. “Based on the provisions of Section 579 (2) of the Companies and Allied Matters Act, (CAMA), the Corporate Affairs Commission has cancelled the registration of the Business name “Enough is Enough BN 2210728” with immediate effect. “The Business Name “Enough is Enough” which was registered in 2012 to engage in General Contracts, Sales of Sport Equipment/Promotion deviated from its main objectives over the cause of time. “Consequently, the Commission has removed it from its database and advised the proprietors to surrender the certificate earlier issued to them.” Get more stories like this o...
#EndSARS: Lagos Chamber reschedules international trade fair
The Lagos Chamber of Commerce and Industry (LCCI) says that it has rescheduled the 2020 edition of the Lagos International Trade Fair. Dr Muda Yusuf, Director-General of LCCI, said that the fair which was scheduled to hold from Nov.5 to Nov. 15, 2020 has been rescheduled for between Dec. 4 to Dec. 13, 2020 at the Tafawa Balewa Square, Lagos; both physically and virtually simultaneously. Yusuf in a statement on Thursday also said that the postponement was occasioned by the economic disruptions brought about by the COVID-19 pandemic and the recent #EndSARS protests across the nation. “The resolve to hold the 2020 edition of the fair is in line with the need for quick restoration of normalcy to the economic and commercial activities in Lagos State and our support for the ongoing ‘Protect Lago...
VP Osinbajo: CAMA issues can be addressed through amendment by National Assembly
In an effort to allay fears expressed by the leadership of the Church about the recently enacted Companies and Allied Matters Act (CAMA) 2020, Vice President Yemi Osinbajo, SAN has said concerns can be processed through possible amendment of the contentious section of the law through a proposal to the National Assembly. The Vice President stated this on Thursday during a special conversation at the ongoing Nigerian Bar Association (NBA) Annual General Conference. Responding to a question about reactions to CAMA, the Vice President said: “what can be done is that, whatever the proposal for amendment may be, whatever the views of the leadership of the church may be, regarding the question of how the trustees, whether they are interim trustees or not, can be put in the form of a proposal that...
Nigerian government deregisters Ohanaeze, Arewa CF, others over security clearance
The Federal Government has deregistered frontline socio-cultural groups in Nigeria as the Corporate Affairs Commission (CAC) has withdrawn the registration certificate of Ohanaeze Ndigbo General Assembly, the Arewa Consultative Forum (ACF), among others. Disclosing this in Abuja, the Registrar General of CAC, Garba Abubakar, said the measure was part of the reforms the Commission was putting in place to subject such applications to thorough scrutiny following security threats that may arise from such registrations. He said: “Yes, we have withdrawn the certificate of Ohanaeze Ndigbo General Assembly because the certificate should not have been issued in the first instance. “We have an established protocol that all organizations; ethnic, religious with political implication should be referre...
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