Electronic Filing Has Eased Financial Burden On Companies By Avoiding Lawyers Fees– CAC RG, Abubakar

The Registrar General of the Corporate Affairs Commission, Alhaji Garba Abubakar, says the commission has leveraged technology to digitise its operations, adding value to company registration.

Abubakar stated this yesterday when he received the management of Media Trust Group at the commission’s headquarters in Abuja.

He said prior to the reforms, filing of tax returns and other processes were done manually.

“From January 3, 2021, all filing and results are sent electronically and the cost of filing returns by company is N5, 000. But at the time it was done manually through lawyers, it might cost a company about N50,000 to pay a lawyer to execute that job. All that has been phased out due to the new policy.

“We are also on the verge of integrating with the National Identity Management Commission to harmonise individual details in registering a business.

“There is also collaboration with the European Union on a financial report application to boost our operations,” he explained.

Speaking on CAMA, Abubakar said the Act is not peculiar to Nigeria, as its provisions are the standard practice in different parts of the world, as the controversies that greeted it have been put to bed.

The Group Chief Executive Officer (GCEO) of Media Trust Group, Mounir Gwarzo, who led the management team, said the purpose of the visit was to explore means of collaborations that would be beneficial to both parties.

“We are here to familiarise ourselves with the commission and explore means of collaborations and we are ready for anything that will make both of us happy. And we assure you that the company’s doors are open to synergy that will boost growth and development of both parties,” he said.

Gwarzo added that the company had also been leveraging on technology, a move that led to its rebranding recently to improve its operations across all its platforms.