By Suzan Edeh
Bauchi — The Corporate Affairs Commission, CAC, in Bauchi State has warned that companies and businesses defaulting in compliance with the provisions of the Companies and Allied Matters Act, CAMA, will soon face severe sanctions.
State Director, Public Affairs, Mr Churchill Williams, in a statement in Bauchi said the commission had set up a special enforcement committee, which has commenced a crackdown on the operations of such companies.
He said: “The special enforcement committee had completed the first phase of the on-site examination exercise in the Federal Capital Territory, FCT, and had visited various markets, shopping malls and held collaborative meetings with relevant organisations to sensitise the public on the post incorporation obligations of registered companies and the consequences of operating unregistered businesses.
He said: “A total of 474 companies were penalised for non compliance during the exercise in the FCT. The next phase of the enforcement will be carried out in the 36 states of the federation.”