By Favour Nnabugwu

The Registrar-General of the Corporate Affairs Commission, CAC, Alhaji Bello Mahmud has regretted that non-existence of a central database is a major challenge to ascertaining the veracity of information people produce at the point of registration of companies in the country.

Alhaji Mahmud stated this when the Managing Director of Media Trust Limited, Alhaji Ishaq Ajibola and his team came on a courtesy visit to the Commission.

He said CAC has come up with a procedure such that anyone who wishes to register any company must present valid means of identification such as national identity card, driver’s licence or international passport.

The measure is to address the issue of fake address and other malpractices at the point of registration as the Commission would now use biometric data to trace such persons.

The Registrar-General acknowledged that the 24- hour incorporation of companies at the Abuja and Lagos offices of the Commission has been a success story.   He reiterated that plans are in place to extend the same service to all the Commission’s state offices across the nation.

He said the measure is aimed at creating a conducive atmosphere and facilitating  business in the country as well as industrialize the country to make it the hub of investment.

Mahmud explained that the Commission has embarked on public enlightenment programme on the risks of doing business without registration.   To this end, he said arrangements have been put in place for enforcement and clampdown on fake and illegal use of business names.

He further stated that the Commission has put in place processes to encourage the registration of Small and Medium Scale Enterprises.