Connect with us

Business

CAC moves to block fraudulent applications imitating existing companies

“In view of the provisions of the law, the commission discontinued the issuance of certified true copies of some documents.”

Published

on

CAC

Garba Abubakar, registrar-general of the Corporate Affairs Commission (CAC), has disclosed that the agency will block suspected fraudulent applications registering new companies similar to existing ones. 

Rasheed Mahe, head of media at CAC, made this known in a statement issued on Sunday, October 17, saying the commission has recorded high applications with names similar to existing ones.

According to him, the commission had discontinued the issuance of certified true copies (CTCs) and replaced them with certified extracts to boost the fight against corruption.

The statement read: “The commission had upon the commencement of the implementation of CAMA 2020 invoked the provision of Data Privacy and Protection Act to eliminate incidences of presenting cloned signatures to the CAC for registration purposes.

“In view of the provisions of the law, the commission discontinued the issuance of certified true copies of some documents. Certified extracts have replaced CTCs in accordance with provisions of the law.”

On the ongoing reform initiatives, Abubakar said CAC was reviewing its checklist of services and would deploy a customer relationship management (CRM) system toward resolving customer challenges in real-time

He cautioned accredited agents against sharing their access to CAC portals with others to guard against fraud.

The registrar also revealed that the Commission had completed work on the insolvency framework and will soon expose the regulation to the public through its website.

ALSO READ  Low-income country debt rises to record $860 billion in 2020 - World Bank
Advertisement
Click to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement
Advertisement
Advertisement
Advertisement

Facebook