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All Changes Will Be Carried Out Electronically Come 2021: CAC

The Corporate Affairs Commission has officially taken delivery of a copy of the Gazetted CAMA, 2020 from the Clerk of the National Assembly on Thursday 19th November,2020 and is putting machinery in place to commence full implementation by 1st January,2021. The Bill was signed into law on 7th August,2020 by President Muhammadu Buhari.

The Registrar General/CEO of the Corporate Affairs Commission, Alhaji Garba Abubakar revealed this today when he received the Chairman, Board of Governors of the IoD Centre for corporate Governance, Dr. Ebenezer Ebun Sonaiya on a courtesy call to the Commission.

Alhaji Garba further revealed that the tool to be used for the implementation was the Regulation which had earlier been exposed to the public via the Commission’s website for comments and observations.

He expressed delight that several valuable contributions were received from well-meaning Nigerians including the Nigerian Stock Exchange and the NBA Section on Business Law amongst others.

Garba Abubakar stated that when the implementation starts, all changes will be carried out electronically adding that concerns over e-signatures were being taken care of as every company will be given a unique user name and password to enable only their authorized persons make changes where necessary.

Also Read: Steps For CAC New Business Name Registration

The Registrar General also revealed that upon the implementation of the CAMA,2020, the Commission will discard the issuance of Certified True Copies in accordance with data protection regulations and only issue extracts from companies records.

He added that certified copies of forms that contain signatures will not be issued by the Commission except for litigation purposes where absolutely necessary as the law provides that extracts can suffice.

The RG described as worrisome, situations where people obtain CTCs only to later imitate signatures in attempt to steal other peoples’ companies or lands and expressed confidence that the CAMA, 2020 will go a long way in addressing such concerns.

Speaking earlier the Chairman, Board of Governors, IoD Centre for Corporate Governance, Dr. Ebenezer Ebun Sonaiya said they were at the Commission to give a feedback on the just completed CAMA, 2020 training workshop organized by the IoDCCG amongst others.

Ebenezer Ebun Sonaiya described the training held virtually with 42 Attendees as successful and thanked the CAC for being part of it. He therefore requested for continued partnership with the Commission and urged it to support the IoDCC’S next phase of training schedule for the 1st Quarter of the year 2021.

He used the forum to appreciate the Commission’s reform initiatives and called on the Registrar General to sustain the tempo in accordance with global best practices.

Also Read: CAC New Business Name Registration: FG Distribute Certificate to Successfully applicants

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