CAC starts registering two million small companies
CAC Update: According to information released by the Corporate Affairs Commission, two million small businesses are now being registered in an effort to legalize the sector.
The CAC said that its Registrar-General, Hussaini Ishaq Magaji, had revealed this information during an Abuja ceremony in a statement that was made public on Friday.
According to him, the registration process is being aided by a relationship with Moniepont to promote regulatory compliance, boost economic growth, and promote economic development by raising tax revenue.
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Formalizing these businesses is crucial for financial prospects and economic advancement, as the commission has struggled with the small number of firms registered in the country.