By Abbanobi-Eku Onyekachi
In its continued bid to drive compliance and achieve President Bola Ahmed Tinubu’s dream of creating 50 million jobs, the Corporate Affairs Commission (CAC) has announced plans to formalise 300,000 businesses in the country.
The Registrar-General/Chief Executive Officer (RG/CEO) of the CAC, Hussaini Ishaq Magaji, SAN, revealed this during a meeting with the management of Opay Services Ltd recently.
Recalling that recently, the CAC recorded a similar milestone for bringing on board two million businesses through Moniepoint, and stressing that operating businesses without registration is criminal under the provisions of the Companies and Allied Matters Act, 2020, Magaji therefore said the Commission was providing a window for the unregistered businesses to formalise in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
He therefore reiterated his determination to register 20 million businesses in 2024 to complement the present administration’s efforts to boost the MSMEs sector for economic growth.
While fielding questions from journalists, the RG charged content creators, crypto businesses, and others to ensure that they operate within the rules and regulations governing their operations.
In his remarks, the Managing Director of Opay Services Ltd., Dauda Gotring stated their commitment to bring onboard all their yet-to-be captured agents and merchants, numbering 300,000, informing that Opay’s core mission was to ensure financial inclusion, and they were set to ensure adequate sensitization before the commencement of the exercise. He however added that the formalisation would be beneficial to both the government, operators, and intending Opay customers.
