The Corporate Affairs Commission (CAC) has announced that the on-going Business Incentive Strategy (BIS) will end by March, 31st 2019.
The Acting Registrar General, Lady Azuka Azinge at the Commerce and Industry Correspondent Association of Nigeria (CICAN) annual retreat and capacity building workshop on Friday in Abuja, urged members of the public to ensure they register their businesses. According to her, “the BIS involves eduction in fees from N10,000 to N5,000 initially for a 3 months period 1st October to 31st December, 2018. “ She said based on popular demand, period was extended by another 3 months from January 1st to March 31st 2019, adding that the BIS registration is ongoing at CAC offices nationwide. She said essence of the reforms is to make business registration and regulation as simple as possible. “While the BIS is to ensure formalization of businesses by MSMEs for the overall benefit of the economy. “The BIS is Commission’s contribution to the development and growth of the MSMEs in Nigeria. “Importance of MSMEs and its contribution to GDP, Realization that a large number of the MSMEs were “0” registered. “Benefits of registration/formalization of their business, Open Bank Accounts, Access to Credit, Corporate Governance,” she said. On the retreat, Lady Azinge said the media occupies a very strategic placea in society, noting that without the media, the requisite public awareness of government initiatives and programmes cannot achieve the desired impact. She commended the long standing cordial relationship between ClCAN and the Commission.