CAC Suspends Consent Applications, Upgrades Registration Portal 

Yemisi Izuora

The Corporate Affairs Commission, CAC, has suspended consent applications for Companies Limited by Guarantees and Incorporated Trustees among others.

The Federal Government had announced in November that its new regulation for businesses would be operational by January 2021.

The Commission said on Tuesday in a Tweet that the suspension would last till January 4 next year.

The agency said, “This is to notify our esteemed customers that all consent applications for Limited by Guarantee, Incorporated Trustees or restricted names are suspended till 4th January, 2021 due to the upgrade of our Companies Registration Portal.”

The upgrade would enable all customers to do all post-registration filings electronically.

The Commission said it had upgraded its registration software to accommodate the new changes brought by the new legislation.

It added, “This is to inform our esteemed customers and the general public that in line with our implementation plan for Companies and Allied Matters Act 2020, the Commission has upgraded its registration software to accommodate the changes introduced by the new law on existing entities.’

CAC said all customers with pending application should ensure that they print all documents uploaded under the current application as they may be required to present hard copies to the Commission for validation.

“The new software may, depending on the stage of the application allow for continuation of processing of pending applications in certain circumstances based on the new requirements enshrined in the CAMA 2020 and the Companies Regulation 2021,” the Commission added.

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