CAC Set To Block Fraudulent Registration Applications- Abubakar

Posted by African Examiner Featured, Government Buz, Latest Headlines, News Across Nigeria Sunday, October 17th, 2021

(AFRICAN EXAMINER) – The Corporate Affairs Commission (CAC) has expressed determination to block suspected fraudulent applications aimed at registering new companies similar to existing ones trying to take over lands belonging to others.

CAC, in a statement issued on Sunday in Abuja, by its Head of Media, Mr Rasheed Mahe, said that high incidence of applications with names closely similar to existing ones were recorded recently.

The statement quoted the Registrar General of CAC, Alhaji Garba Abubakar, as stating this at a Customers/Stakeholders’ Forum held in Lagos.

Abubakar pointed out that the measure was to further boost the Federal Government’s fight against corruption.

According to Abubakar, the commission will continue to remain vigilant to ensure that fraudsters don’t take over other people’s lands.

“The commission had upon the commencement of the implementation of CAMA, 2020 invoked the provision of Data Privacy and Protection Act to eliminate incidences of presenting cloned signatures to the CAC for registration purposes.

“In view of the provisions of the law, the commission discontinued the issuance of certified true copies of some documents.

“Certified extracts had replaced CTCs in accordance with provisions of the law,’’ he said.

Abubakar expressed concern that in spite of the provisions of the Data Privacy and Protection Act, some customers were still yet to accept the new arrangement which was invoked to amongst others check fraud.

On the ongoing reform initiatives, the Registrar General said the commission was reviewing its checklist for some services, adding that it would deploy Customer Relationship Management (CRM) system toward resolving customer challenges real-time.

While cautioning accredited agents against sharing their access to CAC portals with others to guard against fraud, he revealed that the commission had completed work on the insolvency framework.

According to him, the commission will soon expose the regulation to the public through its website.