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Various business regulatory agencies regulate the activities of
companies in Nigeria. While some of the agencies apply to all
businesses regardless of the sector, the nature of the business,
others are specific to a particular sector. This write-up will give
a brief overview of the regulatory agencies and identify whether
such agency applies to all business or a particular sector.
The agencies and their functions concerning businesses in
Nigeria will be briefly discussed below.
The Corporate Affairs Commission (CAC)
This is usually the first and foremost agency every proposed
Demola Seriki
The days are beginning to brighten for former Minister of State for Defence and Chairman of Corporate Affairs Commission (CAC), Ademola ‘Demola’ Seriki. He, alongside a host of others, has been confirmed for ambassadorial positions, six months after their nominations and screening by the Senate. Seriki will be representing Nigeria as a non-career ambassador in Spain.
Demola Seriki’s life in public service deserves contemplation. Against all odds, a figure assumed to be forever retired and peripheral to the goings-on of the Nigerian political landscape. But his years of dedicated service have proved all those calculations wrong, and his appointment as Nigeria’s highest-ranking diplomat in Spain is well deserved.
Unclaimed dividends, dormant bank accounts and FG’s quest for improved revenue
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President Muhammadu Buhari signed 2021 N13.588 trillion Appropriation and 2020 Finance Bills into law, saying the government deliberately chose to pursue an expansionary fiscal policy to accelerate the economic recovery process, promote social inclusion, and strengthen economic resilience.
He said that the government was intensifying domestic revenue mobilisation efforts so that adequate resources can be realised to fund the budget.
“Revenue-generating agencies, and indeed all ministries, departments, and government-owned enterprises, must work very hard to achieve their revenue targets, control their cost-to-revenue ratios, as well as ensure prompt and full remittances,’’ he said.
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The Vice President of the Federal Republic of Nigeria, Professor Yemi Osinbajo, in few weeks time will visit Anambra State to commission an all-inclusive industrial park.
Tribune Online gathered that the industrial park is the Federal Government’s reward to Anambra State for winning the 2019 award of the best state in micro, small and medium enterprises.
The Managing Director, Anambra State Small Business Agency, ASBA, Sir Clement Chukwuka, disclosed this at a collaborative meeting with Anambra State Coalition of Civil Society Networks, ASCON, in his office at Awka.
Sir Clement said the industrial park being erected at Nkwelle Ezunaka, and its centred to house financial institutions, Corporate Affairs Commission, among other allied offices that would provide convenient business environment for industrialists in the state.
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The Lagos Varsity Christian Alumni Fellowship has announced plan to appoint a female member to its Board of Trustees on Saturday (today).
A statement signed by the organisation’s Publicity Secretary, Bemigho Awala, on Friday, said the action was taken in line with the requirement by the Corporate Affairs Commission.
The statement read in part, “The Lagos Varsity Christian Alumni Fellowship will hold an Extraordinary Annual General Membership Meeting on Saturday January 23, 2021 at 5pm.
“The purpose of the meeting is two-pronged; first is to seek members’ approval for the appointment of an auditor and secondly, the election of a female member to its Board of Trustees. These actions are been taken in accordance with the Fellowship’s Constitution and in compliance with the Corporate Affairs Commission requirements.