CAC to assist MSMEs grow, says acting Director-General

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The Corporate Affairs Commission (CAC) will continue to work with Micro Small and Medium Enterprises (MSMEs) to revamp the sector, its Acting Registrar-General, Lady Azuka Azinge, said yesterday.

Lady Azinge who spoke during the Commission’s Customers, Stakeholders Forum in Kano, said one of the major thrust of the administration, is to revamp the economy through support for MSMEs, adding that the Commission is working closely with several MSMEs whose activities contribute to the development of the economy.

She said the Commission launched the Business Incentive Strategy (BIS) under which the cost of business registration was reduced from N10,000 to N5,000 for an initial three months period. “It was recently extended for a further period of three months, January 1 to March 31 2019, to enable MSMEs register their businesses with the commission,” she said.

Lady Azuka said during the initial three months of the BIS, registration increased tremendously, stating that between April and June, 30,941 businesses were registered while between July and September- 32, 504, MSMEs got registered. She said from October 1 to December 31, 2017, 23,539 titles were registered, while from October 1 to December 31, 2016. 20,600 businesses were equally registered.

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