The Digest:
All online requests to update business names must now include enhanced personal and contact information from proprietors. The new mandate, effective immediately, is part of the commission's drive to improve data accuracy, combat fraud, and strengthen its digital verification systems.
Key Points:
- Required details now include the proprietor's date of birth, registered office email, personal email, a linked phone number, and a valid means of identification.
- The CAC stated that incomplete submissions may lead to delays or outright rejection of update requests.
- This move aligns with broader efforts under the Companies and Allied Matters Act (CAMA) 2020 to sanitize the business registry and ensure compliance.
- In recent months, the CAC has cracked down on unregistered businesses, issued warnings about fake registration numbers, and delisted dormant companies.
- The commission also recently launched an AI-driven registration portal to streamline and secure the business incorporation process.
- These steps aim to protect investors and the public from fraudulent entities by ensuring all business records are verifiable and accurate.
- The enhanced requirements underscore the government's push toward a fully digitized, transparent, and secure business regulatory environment.
Sources: Business Post, Nairametrics
