The Corporate Affairs Commission on Tuesday said it registered 170,582 companies between January and October 2012.
The Registrar-General of CAC, Mr. Mahmud Bello, announced this in Abuja while presenting a paper at a Seminar on “Creating a Friendlier Environment for Trade and Investment to Thrive: CAC’s Role.”
This figure, according him, consists 74,641 companies, 87,640 business names and 8,291 incorporated trustees, the News Agency of Nigeria reports.
Bello put the revenue generated at more than N6 billion.
He also said that the commission would commence incorporation of companies in its Kaduna, Kano and Enugu offices from Jan. 2, 2013 without any recourse to the head office.
“The CAC has taken practical steps to decentralise its operations by making the state offices more functional and at par with the head office.
“This is made possible by the adoption of fibre optic for the commission’s Wide Area Network as solutions to frequent downtime being experienced with the VISA system,” he said.
He said incorporation of companies had commenced in the two offices in Lagos since November, adding that five state offices had been earmarked to also carry out “start-to-finish services” in 2013.
He added that the commission had concluded arrangement to scan the backlog of records of all companies, business names and incorporated trustees to permanently solve the problems of mutilation, pilferage and loss of valuable documents.
He said the new system would also make it possible for customers to access company information electronically via the web.