In August 2014, TechMoran reported that the Federal Government of Nigeria had planned to begin electronic registration of companies looking to set up businesses within Nigeria.The Corporate Affairs Commission (CAC) had stated that starting October 1, 2014 Nigerians would no more have to incur additional costs and inconveniences to travel to CAC office to register and stay for a long period before registering their business.
While addressing journalists in Abuja, Nigeria’s minister of Industry, Trade and Investment Olusegun Agang said the online registration will help reduce the cost of conducting business significantly and the time it takes for foreign and local investors to establish their businesses.
Today, the FG launched the online company registration platform-CRP/GSP complete with a universal payment gateway so as users can log on and choose whatever payment platform they want to use to easily pay their fees from home or on the go. Master card, Visa, Verve card, American Express, Inter-switch, e-transact among others can be used.
According to Aganga, the delay was due to the fact that the earlier vendor failed to issue a software upgrade so a new one was appointed to build a new and robust system.
Apart from the public, the system is also open to accredited agents and professionals to do their own transactions directly than using brokers or middle-men.