Nigeria: CAC initiates registration for 2 million small businesses
The Corporate Affairs Commission has initiated the registration of 2 million small businesses to formalize the sector.
In a statement on Friday, the CAC announced that its Registrar-General, Hussaini Ishaq Magaji, disclosed this during a ceremony in Abuja.
He emphasized that the registration initiative, conducted in collaboration with Moniepont, aims to spur economic growth, promote regulatory adherence, and enhance economic development by boosting taxation revenue.
Addressing the commission’s challenge of low business registration rates, formalizing these enterprises becomes imperative for fostering economic growth and expanding access to financial opportunities.
Related Posts
Gulf Energy delivers onshore rig to Mombasa Port for Turkana Crude Oil Drilling
Kenya has taken another major step towards achieving its first crude oil production after Gulf Energy E&P BV…
ByNEW: Ardova Plc secures 100% stake in Powergas and PEL
Ardova Plc is set to expand its presence in Nigeria’s natural gas market after an Ardova-led consortium, including…
Afreximbank secures $529m guarantee and facility
To boost African trade infrastructure Afreximbank has taken significant steps to strengthen the infrastructure and financial architecture supporting…
Kenya Power showcases decade of transformation at Global Energy Forum
Kenya Power Managing Director and Chief Executive Officer Dr. (Eng.) Joseph Siror has highlighted the utility’s significant progress…
Gallery
