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RE: POLITICIANS’ FILE DISAPPEAR AT CAC

RE: POLITICIANS’ FILE DISAPPEAR AT CAC

The attention of the Corporate Affairs Commission (CAC) has been drawn to a cover page story in the Daily Sun Newspaper of Monday April 25, 2016 with the above caption.

The CAC wishes to assure all its key stakeholders and the general public that contrary to the above captioned report none of the companies’ files in its custody in which any politician has interest is missing.

It is also not true that the CAC had resorted to manual registration since 2014. As a matter of fact the Commission’s new Company Registration Portal was deployed on 2nd October, 2014 and has been operating smoothly since then.

The CAC has put adequate measures in place to safeguard the records of the over three million (3,000,000) Companies, Business Names and Incorporated Trustees in its custody with some dating back to 1912 in both hard and electronic formats.

In addition, the CAC has given electronic access to its database to all the Security Agencies, Embassies and some Government organizations which enable them to confirm the registration status, composition and ownership of every registered Company, Business Name and Incorporated Trustee.

Some of these services have been recently extended to members of the public with the introduction of a public search window in the CAC’s website that allows members of the public to confirm the name, registration number and date of registration of every Company, Business Name and Incorporated Trustee at no cost.

The reaction by the spokesman of the EFCC should have made the reporter to exercise caution and restraint until he clarifies the true position of things from the CAC. Alas the matter was taken to press without such confirmation even when it is evident that all the issues in the report were totally false. For the avoidance of doubt no Director of the CAC was recently quizzed by the EFCC or any other Security Agency over a case of missing file.

The CAC will remain resolute in the discharge of its mandate and will not be distracted by mischief makers, saboteurs and other persons that do not wish the Country well.

MANAGEMENT

RE: POLITICIANS’ FILE DISAPPEAR AT CAC

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