Home Business & Economy Oyo partners CAC on registration of businesses

Oyo partners CAC on registration of businesses

Oyo State Government and the Corporate Affairs Commission have agreed to establish a one-stop-office for speedy registration of businesses in the state.
This was a resolution made after a meeting between the state government and the CAC Ibadan Zonal Office at the Oyo State Government Secretariat on Friday in Ibadan.
The News Agency of Nigeria (NAN) reports that the meeting was held at the request of Gov. Abiola Ajimobi in his bid to make the state a haven of business activities.

NAN also reports that the governor had expressed readiness to remove bottlenecks in the process of setting up businesses in the state as government intensified efforts at broadening the scope of the State economy to attract foreign and local investors.
Ajimobi, who was represented by Mr Yinka Fatoki, Executive Secretary, Bureau of Investment Promotion, called on the CAC to partner the State in its renewed effort at industrialise and make it a hub of commerce.
The governor called for the establishment of a `one-stop-office’ to fast track the process of registering businesses in the state.

According to him, the newly flagged-off industrial park and Free Trade Zone in the state would attract large, medium and small scale businesses.
Ajimobi said that the state government was ready to provide the needed logistics in terms of office space and other resources to expedite the process.
Mr Sulaiman Muhammed, the Southwest Zonal Director, CAC, assured the state government of the agency’s readiness to actualise the establishment of the one-stop-office.
He said the creation of the office would truly fast track the registration process and help the CAC generate more revenue.

“Business registration by CAC has been transformed into a speedy process with the incursion of the Internet. Business name availability which used to create hindrance can now be done online.
“Today, we now achieve result under 24hours, while registration could be done online within a week.
“It is our belief that this effort will reduce middlemen’s interference and activities of touts that make the cost of registration go outside the real cost.
“All the state government has to do is to write a memo to the headquarters and I will do the rest of the follow-up toward the creation of the one-stop office within the Secretariat,’’ he said.
Muhammed said the establishment of the one-stop-office would not only assist business owners in the registration of their businesses without sweat, but help the CAC to increase its internally-generated revenue.

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