The newly inaugurated board of the Corporate Affairs Commission has unveiled plans to reposition the operations of the organisation.
The Chairman of the board of the commission, which is the official registry of companies and organizations in Nigeria, Mr. Funsho Lawal, said this in Abuja on Thursday while addressing journalists shortly after a two-day board meeting.
The members of the board were announced in December last year but were inaugurated on February 21, 2013 by the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga.
Lawal said the corporation was currently undergoing a restructuring process that would enable it efficiently carry out its operations.
He said this would be achieved through a process of management audit to reposition the organisation into a global brand.
For instance, he said some of the areas that would be improved upon were the computer system to enable clients carry out company searches online and the setting up of offices in strategic areas.
Lawal said, “One of the decisions that we have taken is actually to make sure that the 24-hour registration for business names is adhered to and I am happy to report to you that we now register (companies) within 24 hours.
“Some of the improvements that we have made since we came on board is on the revenue line. We have seen a tremendous improvement in our revenue.”
He said that since the inauguration of the board, the commission had ensured it got value for money in all its operations, adding that arrangements had been made to open offices in three major cities of the world.
They are London, Washington and Beijing.
The chairman said the offices, when operational, would help the country to earn foreign exchange.
He said, “We have registries in Singapore, London and South Africa, and what we have done is to pick some of their best practices and incorporate such practices into our own systems here to help us make sure that CAC is turned into a global brand and a world class organisation.
“We are going to be having an e-payment online system to ensure that name searches are done online within 24 hours. We are also going to open offices in various locations because in the next two or three months, we will be having our presence in London, Washington and possibly Beijing in China.”