Entrepreneurship: CAC Registers 21,000 Businesses Since November

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The total number of new companies registered since the commencement of the 24-hour start-to finish business registration process by the Corporate Affairs Commission currently stands at 10,723.

This is contained in the CAC’s latest report titled, ‘Statistics for new registration services for Abuja and Lagos offices,’ released to the Ministry of Trade and Investment on Tuesday in Abuja.

The report showed that the total number of applications for business registration received by the commission within the last four months was 20,800. Of this number, the Abuja head office received 19,919 applications, while the Oregun and Yaba offices in Lagos received 653 and 228 applications, respectively.

According to the report, which was made available by the Senior Special Assistant to the Minister of Trade and Investment on Corporate Communications, Mrs. Yemi Kolapo, the total number of applications processed within 24 hours in CAC’s Abuja head office were 10,292; while the Oregun and Yaba offices processed 398 and 33 applications, respectively.

The report also showed that the total number of applications processed outside the 24-hour period, but within 72 hours were 8,759. Of this number, the Abuja office accounted for 8,416; Yaba, 150; and Oregun, 193.

The report, however, stated that the total number of applications that were pending after three days stood at 1,318, with the Abuja office accounting for 1,211 applications.

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