We will help lift 100 million people out of poverty in Nigeria- CAC to Federal Government

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joseph sunday

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Oct 16, 2021
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The corporate Affairs Commission (CAC) has promised to complement the federal government's efforts to lift 100 million Nigerians out of poverty as the country prepares to host the 2021 Nigeria Industrialization Summit.

Indeed, the Commission has launched various reform initiatives to ensure that the Commission achieves the status of a world-class business register.

This disclosure is contained in a statement signed by the head of the CAC media unit, Mr. Rasheed Mahe, in Abuja on Saturday.

According to NAN, Mahe quoted CAC Registrar General / CEO Alhaji Garba Abubakar as saying; as he received members of the local summit organizing committee led by David Erewa, the association's national vice president. Nigerian Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA.)).

Describing the ACC as a gateway for foreign or local investment, Abubakar expressed the Commission's willingness to provide services at the event to alleviate Nigeria's desperate desire for industrialization and to assist the organizers in accordance with legal requirements.

On that occasion, NACCIMA National Vice President David Eweta said the summit will be held in line with President Muhammadu Buhari's pledge to lift 100 million Nigerians out of poverty for 10 years.

He revealed that the African Development Bank (AfDB) is running across the country under the leadership of its President Dr.

He further announced that it will be free to attend to encourage participation, adding that the event, scheduled for November 2021, is expected to attract attendees and resources from around the world.

Recall in September, The Corporate Affairs Commission (CAC) revealed that it has registered 245,000 businesses under its free business name registration scheme so far this year.

This was announced by Registrar-General Alhaji Garba Abubakar in an interview with the Nigerian news agency in Abuja.

The CAC chief added that the free registrations were made with the approval of the federal government as part of its interventions to reduce the economic impact of COVID-19 on Nigerians.

He added that "the federal government has paid 50% of the registration costs to the CAC, and as a result, more than 245,000 company names have been registered," noted that the free registration process so far has been electronic and that candidates also receive their certificates electronically.

"The numbers were split between the 36 states and the FCT," he said, noting that "the states of Lagos, Abia, and Kano had the highest numbers."

"We hope the exercise will be over by the end of September," he said.