He noted that “the amendment had taken away power from the AGF to sign before full registration of Limited by Guarantee companies. CAC in anticipation of the Bill commenced an online method of registration which recorded tremendous success and enhanced the ease of doing business in Nigeria. “The delay in the signing of the Bill will affect the 48 hours business registration by the CAC, “stated our Source. This change would have made the registration process similar to what is currently obtainable for Incorporated Trustees, as an alternative legal vehicle for registration of not-for-profit organisations. Many believed that the Bill would have addressed the extant difficulties faced by businesses (administrative bottlenecks and high compliance costs) and more importantly ease the mode of business registration in Nigeria.

Source: Nigerian Tribune January 08, 2020 17:37 UTC