The Corporate Affairs Commission is a government establishment set up for the purpose of Incorporation of Companies. They are saddled with the responsibility of incorporating both Private and Public Companies that are limited by guarantee.
According to a public affairs firm, they have been around for quite a while and their activities ensure companies established in Nigeria meet very important requirements set up by the government. They are equally responsible for incorporating any foreign company that desires to get established in Nigeria.They play regulatory role in the Nigerian corporate world.
Among its various purposes, the Corporate Affairs Commission is responsible for the registration of business name of a company. They also play the role of registration of Incorporated Trustees of a company, which the company is expected to present at the point of registration or at later date when such is necessary.
Gone are the days when the Corporate Affairs Commission take very long time before they are able to register new companies. These days, they can get new companies registered within a day, thanks to their Same Day Incorporation Services, which makes their service even more interesting and impressive.
Before registering any company, the Corporate Affairs Commission takes time to investigate the particular company. They do this by conducting searches. This is very important since it helps them know how true or otherwise the company is.
After investigating a company, the Corporate Affairs Commission then goes to the next level, which involves Issuance of Certified True Copies of filed documents to the company.
The Corporate Affairs Commission is equally responsible for the registration of share capital increases, mortgages and other financial concerns of all the companies registered under them.
The CAC is also the government body saddled with the responsibility of processing the statutory filings of annual returns, increase, changes in the memo and articles, addresses and other such information about the particular company that has registered under them.
The Corporate Affairs Commission is expected to arrange or conduct investigations into the affairs of any company where the interests of the shareholders and the public so demand. They are not just ensuring the proper registration of a company; they are also involved in protecting interest of investors.
Additionally, the Corporate Affairs Commission is responsible for the management and winding-up of companies. The Corporate Affairs Commission is also expected to be involved in monitoring the compliance with the CAMA by companies registered under them.
Sale of all statutory forms and publications of the Commission is yet another of the numerous responsibility of the Corporate Affairs Commission. The CAC is expected to respond to enquiries and complaints in respect of the services of the Commission by concerned government agency or members of the public.
The CAC equally handles preliminary process of accreditation of Lawyers, Chartered Accountants and Chartered Secretaries who are the recognized professionals and direct users of the Companies Registry.
The CAC has branches in all states of the federation. However, its office in Lagos is located at 17, Aje Street, Sabo, Yaba, Lagos Mainland, Lagos State. Their telephone number is 08037004299.