The Corporate Affairs Commission (CAC) has partned with Indian professionals and entrepreneurs to improve its operations and streamline company registration processes in Nigeria.
This initiative was announced by the Registrar-General/CEO of the Commission, Hussaini Ishaq Magaji, during a meeting with the Indian delegation that accompanied Prime Minister Narendra Modi on his state visit to Nigeria earlier this week.
Magaji, who hosted the delegation led by Rekha Sharma at the CAC office, expressed optimism that the collaboration would provide valuable insights and opportunities to enhance the Commission’s processes.
He noted that the CAC currently oversees the registration of over seven million businesses and emphasised the importance of continuous improvements to make business registration more seamless for Nigerians and foreign investors alike.
Sharma, the leader of the Indian delegation, highlighted the pivotal role the CAC plays as the first point of contact for starting a business in Nigeria.
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She also emphasised that Indian businesses are the second-largest employers in the country, contributing over N7 billion in investment with a potential of over N200 billion.
However, Rahi, the Financial Secretary of the Nigeria-India Business Council, stressed the timeliness of the visit, which offers an opportunity to explore Nigeria’s business formation and regulatory landscape.
Rahi called for further collaboration with the CAC to expedite business formation processes, particularly for Indian investors in Nigeria.
This visit follows President Bola Tinubu’s hosting of Indian Prime Minister Narendra Modi on November 17, during which Modi was conferred with Nigeria’s second-highest national honour, the Grand Commander of the Order of the Niger (GCON).
