The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has applauded the Registrar General, Corporate Affairs Commission (CAC) Hussaini Ishaq Magaji for taking the Commission to the next level.
He commended the Registrar General for launching online premium services for same day registration, same day update application, same day status report application, same day search, from 24hours incorporation he met on assumption of office 100 days ago.
The Minister who was at CAC on Friday to show support and encouragement, admonished the Commission to imbibe artificial intelligence to take its automation drive to the next level.
In appreciation for the visit, the Registrar General highlighted the roles of the CAC as key player in registration, regulation and investigation of businesses, companies as well as investments.
He noted that the CAC is the entry point to the Nigerian economy and is facilitating services and should not be categorized as revenue generating agency of government hence the need to remove it from the list of revenue generating agency that should remit 50% of its revenue.
Highpoint of the visit was kind admonition to the Commission by the Minister to show support and solidarity regarding the new circular from the Office of Accountant General of the Federation on 50% reduction from internally generated revenue.
According to Mr. Wale Edun, the 50% deduction policy of the Federal Government from Revenue Generating Agencies was President Bola Ahmed Tinubu’s effort to achieve rapid, sustained and inclusive growth aimed at restoring faith and confidence of the public through government’s expenditure to bring transparency to bear.