CAC Orders Agents To Re-validate Users’ Accounts With 10k, Fixes March 31st, 2021 As Deadline

— Says Revalidation To Be Done With #10,000
— Fixes March 31st, 2021 As Deadline For Revalidation

The Corporate Affairs Commission [CAC] has released a new guideline with regards the access and use of the CAC portal for agents seeking to register Companies, Business Names amongst others, under the Company and Allied Matters Act [CAMA].

The CAC made this new directive via its website, and each agent [including legal practitioners] would be required to annually renew their validation in other to further access the portal. The supposed fee for the annual revalidation exercise is currently pegged at Ten Thousand Naira [N10,000] only.

Confirming the directive for annual revalidation, the CAC via its Twitter handle commented that

“The RG who spoke extensively on the workings of the upgraded CRP enjoined the Commission’s accredited Customers to strive to revalidate their account on the Portal before the end of March, 2021 as that was necessitated by the fact that some customers were now deceased, changed details or their location without updating the database amongst others. He stressed that any account not revalidated by the deadline will cease to have effect by 1st of April, 2020 until the Customer comes forward to re-validate.”

“He however said the right of public users to register companies on their own remains sacrosanct as there’s an interface for accounts by public users.”

The announcement has however received criticisms from various social media quarters,

According to one social media user commenting on the new development;

D.E.Zee@Starstudded17, who noted,
“I Don’t know if that is a scam, but I got the same thing too for my applications.
Cac is quick to ask of for revalidation and accreditation with fees applicable, but how do they expect us to do all of this when we can’t even complete clients request for registration to get paid?”

I. Don’t know if that is a scam, but I got the same thing too for my applications.
Cac is quick to ask of for revalidation and accreditation with fees applicable, but how do they expect us to do all of this when we can’t even complete clients request for registration to get paid?

— D.E.Zee (@Starstudded17) March 10, 2021

“@japhizo
so I discovered yesterday that Oga
@cacnigeria1
is imposing a mandatory revalidation levy of 10,000 naira on every lawyer registered with them and a deadline of 31st March, 2021…
After paying for practicing fee to
@NigBarAssoc
then revalidation fees to CAC again..”

At a time when establishments are giving considerations to people due to Covid 19, @cacnigeria1 and @NigeriaGov is imposing fees on lawyers of #10,000 as #RenewalFee
How insensitive can that be?@SendeKamo @general_bafana @OlumideAkpata @NigBarAssoc @seunokin

— E. Fater Sarwuan (@japhizo) March 11, 2021

TheNigerialawyer recalls that at the NBA-SBL Webinar On Companies & Allied Matters Act, 2020 which CAC, was part of, the Registrar General of the Commission noted that accreditation of agents is mandatory if one must remain as an agent to the Commission.

“The accreditation remains but it will be renewable annually for a fee.”

“We have so many people on the accreditation list. Some have been barred from practice, some have left the shores of Nigeria and you have other people using their own numbers to make submissions, to submit applications. Through a renewal process, it may not be one year, it maybe five years, at least you will be able to sanitize the list of accredited agents.” He further added.