The Corporate Affairs Commission (CAC) has addressed recent social media posts spreading false and misleading information about its services, specifically regarding name search or availability. The Commission firmly states that these claims are baseless and intended to tarnish its reputation at a time when it is garnering praise from both the government and key stakeholders.
The public is reminded that, in accordance with Section 863(1) of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s (CBN) guidelines for Agent Banking (2013), the CAC began the regularisation of all fintech companies in the country.
According to a release signed by CAC’s Registrar-General/Chief Executive, Hussaini Ishaq Magaji, SAN, the Commission is handling an unprecedented volume of applications, processing no less than 15,000 daily, including weekends to meet the set deadline for fintech regularisation. The Commission’s diligent officers are working tirelessly to review applications based on their merits.
Additionally, the CAC has granted APIs to fintech companies and established a Special Registration Portal (SRP) to facilitate the direct registration of agents, merchants, and individuals.
The Commission reiterates its commitment to providing prompt and efficient service to customers and urges the public to report any staff attempting to compromise processes and procedures for appropriate disciplinary action.
The CAC advises the public to disregard any malicious and unfounded allegations aimed at discrediting the Commission.
