CAC
Presidency: One million Nigerians benefitting from survival fund
The Presidency yesterday said that over one million Nigerians have so far benefitted from the Survival Fund scheme under the Federal Government’s Economic Sustainability Plan (ESP). The Presidency said there are 500,000 beneficiaries from the MSMEs Payroll support track, 44,500 under the one-off General MSME Grant, and another 265,425 under the artisan support track, among others. Recall that payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant had commenced at the end of April. A statement by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, in Abuja last night explained that so far, under the ESP there are currently over one million beneficiaries nationwide from the various schemes...
Court restrains ALGON faction, others from interfering in association’s affairs
An Abuja Federal High Court has restrained the chairman of Bariga Local Council Development Area (LCDA), Hon. Alabi Akolade David-led faction of the Association of Local Governments of Nigeria (ALGON) from parading its as the leaders of the association. The court also ordered the faction from taking all further action, steps, proceedings and assembly, relating to the conduct of of ALGON’s General Assembly slated for March 24, 2021, or any other day during the pendency of the suit. Other parties restrained by the court order include the Attorney-General of the Federation (AGF) Abubakar Malami, Inspector General of Police and one Mrs Binta Abdullahi Bello from interfering in the affairs of ALGON. The order followed the adoption of a motion ex-parte deposed to by Mohammed Inulin Abubakar on b...
CAC aims to register new company within three hours
The Corporate Affairs Commission (CAC) says it will be possible for companies in Nigeria to be registered within three hours, before the end of 2021. The commission tweeted this on Sunday via its verified Twitter handle. It said, Garba Abubakar, the commission’s registrar-general, gave this indication at a recent dinner in honour of the chairman, governing board, CAC and Nigeria’s Ambassador-designate to Spain, Ademola Seriki. The commission announced last December the upgrade of its online registration portal for business. It said the upgrade would include features that allow the automation of key services and processes in line with the federal government’s effort to Nigeria’s ease of doing business. Newsmen had reported how the new regulation protocol has left businesses in the country s...
Governor Makinde: Nigeria’s redemption will begin from Oyo
Governor of Oyo State, ‘Seyi Makinde, has declared that God will redeem Nigeria from its current challenges of insecurity, ethnic and religious tension starting from Oyo State. The governor, who dwelt on the uniqueness of figure seven, said that God will use the seventh election in the Fourth Republic coming up in 2023 to get Nigeria to perfection. According to him, the fact that Oyo State currently produced the Seventh President of the Christian Association of Nigeria (CAN), the Pentecostal Fellowship of Nigeria (PFN), as well as the Worldwide President of the Christ Apostolic Church (CAC) is a sign that God loves Oyo State and would redeem the country starting from Oyo. A statement by the Chief Press Secretary to the governor, Taiwo Adisa, indicated that the governor also challenged Nige...
CAC withdraws registration of ‘Enough is Enough’
The Corporate Affairs Commission, CAC, Tuesday cancelled the registration of the Business name ‘Enough is Enough’ with immediate effect. The commission disclosed this on its Twitter handle, @cacnigeria1. “Based on the provisions of Section 579 (2) of the Companies and Allied Matters Act, (CAMA), the Corporate Affairs Commission has cancelled the registration of the Business name “Enough is Enough BN 2210728” with immediate effect. “The Business Name “Enough is Enough” which was registered in 2012 to engage in General Contracts, Sales of Sport Equipment/Promotion deviated from its main objectives over the cause of time. “Consequently, the Commission has removed it from its database and advised the proprietors to surrender the certificate earlier issued to them.” Get more stories like this o...
#EndSARS: Lagos Chamber reschedules international trade fair
The Lagos Chamber of Commerce and Industry (LCCI) says that it has rescheduled the 2020 edition of the Lagos International Trade Fair. Dr Muda Yusuf, Director-General of LCCI, said that the fair which was scheduled to hold from Nov.5 to Nov. 15, 2020 has been rescheduled for between Dec. 4 to Dec. 13, 2020 at the Tafawa Balewa Square, Lagos; both physically and virtually simultaneously. Yusuf in a statement on Thursday also said that the postponement was occasioned by the economic disruptions brought about by the COVID-19 pandemic and the recent #EndSARS protests across the nation. “The resolve to hold the 2020 edition of the fair is in line with the need for quick restoration of normalcy to the economic and commercial activities in Lagos State and our support for the ongoing ‘Protect Lago...
Oil prices slide in lockdown-driven rout
Oil prices dived Thursday on demand fears as more nations go into lockdown to staunch the spread of the coronavirus, while stock prices attempted a modest rebound. Both main oil contracts fell five percent for part of the day before clawing back some of their losses, extending this week’s meltdown to plumb four-month lows on virus-driven demand fears. “The new lockdowns have since yesterday caused a carnage in the oil market,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy. “Oil demand will lose ground as a result of the new lockdowns… Prices now naturally decline on this grim prospect,” he added. The drop in oil prices will increase the pain on oil companies. Exxon Mobil announced Thursday it was eliminating 1,900 US jobs as part of a cost-cutting drive necessitated in part ...
VP Osinbajo: CAMA issues can be addressed through amendment by National Assembly
In an effort to allay fears expressed by the leadership of the Church about the recently enacted Companies and Allied Matters Act (CAMA) 2020, Vice President Yemi Osinbajo, SAN has said concerns can be processed through possible amendment of the contentious section of the law through a proposal to the National Assembly. The Vice President stated this on Thursday during a special conversation at the ongoing Nigerian Bar Association (NBA) Annual General Conference. Responding to a question about reactions to CAMA, the Vice President said: “what can be done is that, whatever the proposal for amendment may be, whatever the views of the leadership of the church may be, regarding the question of how the trustees, whether they are interim trustees or not, can be put in the form of a proposal that...
Nigerian government deregisters Ohanaeze, Arewa CF, others over security clearance
The Federal Government has deregistered frontline socio-cultural groups in Nigeria as the Corporate Affairs Commission (CAC) has withdrawn the registration certificate of Ohanaeze Ndigbo General Assembly, the Arewa Consultative Forum (ACF), among others. Disclosing this in Abuja, the Registrar General of CAC, Garba Abubakar, said the measure was part of the reforms the Commission was putting in place to subject such applications to thorough scrutiny following security threats that may arise from such registrations. He said: “Yes, we have withdrawn the certificate of Ohanaeze Ndigbo General Assembly because the certificate should not have been issued in the first instance. “We have an established protocol that all organizations; ethnic, religious with political implication should be referre...
House of Reps probes immigration documents of Chinese in Nigeria
The investigation which began on July 20 in Abuja, is being conducted by the joint house committees on Interior, Nigeria Content Development and Monitoring and Commerce. The Speaker of the house, Rep. Femi Gbajabimila, recalled that in April, photos and videos which went viral on the social media allegedly depicted institutionalised racial discrimination, maltreatment of Nigerians in China. He said it also showed xenophobic assaults, embarrassments, illegal detentions and forceful evictions of Nigerians and other Africans living in Guangzhou, China. Gbajabimila said that he summoned the Chinese Ambassador to Nigeria, Dr. Zhou Pingjian precisely on April, 10 to register Nigeria’s displeasure with the incident. “Subsequently, the House of Representatives on Tuesday, April 28, issued a strong...
EFCC: Lockdown won’t abort cases against ex-first lady, former governors, others
The lockdown arising from coronavirus appears to have slowed down the fight against corrupt practices in the country for close to six weeks. Meanwhile, the Economic and Financial Crimes Commission, EFCC, says there is no cause for alarm as it will ensure that none of its ongoing investigations and cases in court will be aborted. The Commission is certain that as the federal and state governments begin to reopen the economy, it will ramp up legal actions to bring the suspects of financial crimes to account for their actions. “These suspects will unfailingly have their days in court,” EFCC Acting Chairman, Ibrahim Magu, declared. Documents reviewed by newsmen indicate that the Commission has its hands full of cases awaiting resolution in court, while some cases being investigated are ripe en...
Anambra commissioner warns tricycle operators against peddling falsehood
The Anambra State Commissioner for Transport, Dr. Christian Madubuko, has warned Commercial Tricycle Owners and Riders Welfare Association of Anambra State, CTORWAAS, and their alleged paid agents to desist from peddling false allegations against his Ministry or face the wrath of the law. Dr. Madubuko also warned CTORWAAS, its Chairman, Comrade Sylvester Obiorah, Mr. Stanley Onunkwor, and others against peddling falsehood, mutinous and subversive comments against his person or face legal actions. Reacting to the allegation that he (Dr. Madubuko) was priming Tricycles operators, ‘Keke riders’ under the aegis of CTORWAAS, in the State, in other to remove their State Chairman, Mr. Sylvester Obiorah, the Commissioner said his Ministry is aware of some alleged inordinate conducts in the managem...