Corporate Affairs Commission Partners Stock Exchange

(Photo L-R: Mr. Oscar Onyema, NSE CEO;  Mr. Bola Adeeko, NSE’s Chief of Staff; Otunba Funso Lawal, Chairman of CAC; and Mr. Haruna Jalo-Waziri, NSE’s ED, Business Development at the Bell Ringing Ceremony of the Commission at the NSE)

The recently appointed Chairman of the Corporate Affairs Commission (CAC), Otunba Funso Lawal, has said that the Commission will be partnering the Nigerian Stock Exchange (NSE) to boost trading activities.

The Chairman, in company of some board members, during a courtesy visit to the NSE on Tuesday said that CAC would ensure that adequate information needed to assist investors make vital decisions was available at the Exchange.

According to him, one of the principal aims of the commission is to ensure that more companies are registered and quoted on the NSE, hence the need for adequate information to assist investors in making decisions.

He said, “We are happy to collaborate with the Exchange and the market community to ensure that activities in the market as regards quoted companies are boosted. To this end, we would try to ensure that companies are properly registered and we plan to help stockbrokers and investors in making adequate decision regarding the companies they are investing in.”

He added that the CAC board, which was inaugurated in February 2013, planned to go round all its 38 offices nationwide to familiarise with registered companies and educate them on how to make their shares public.

The Chief Executive Officer of the NSE, Mr. Oscar Onyema, said that the plan by the commission to collaborate with the NSE to boost companies’ activities was a right step in the right direction. He added that the CAC would have a special desk on the NSE for information on listed companies.

24-hour Registration
The CAC had recently announced the introduction of 24-hour start-to-finish registration service in its two Lagos offices, Yaba and Alausa.

All new applications for registration under Parts A, B and C of the Companies and Allied Matters Act –application for registration of Limited Liability Companies, Business Names and Incorporated Trustees– are now processed directly by the two Lagos offices and certificates of registration issued to customers within 24 hours from the time of filing.

The Commission had also concluded arrangements to extend the start-to-finish registration service to its offices in Port Harcourt, Enugu, Kano and Kaduna during the year.