Abuja Chamber of Commerce proposes mandatory membership for Nigerian companies at incorporation

By ABUBAKAR YUSUF 

The Abuja Chamber of Commerce and Industry (ACCI) Nigeria is seeking collaboration with the Corporate Affairs Commission (CAC) to ensure that all companies become members of a Chamber of Commerce at the point of incorporation. 

The ACCI President, Dr. Al-Mujtaba Abubakar, who made the demand during a courtesy visit on the Registrar-General of CAC, Alhaji Garba Abubakar, said the first stage of the campaign was to make it optional and subsequently mandatory when Nigeria legislates on that in line with global best practices. 

A statement issued by the Head of Media of CAC, Rasheed Mahe, stated that Al-Mujataba stressed that such policy exists in Europe, Middle East and South Asia with host of advantages which include easier implementation of financial interventions for companies, inclusive consultation, post-registration monitoring and partnering. 

Other benefits, he said, include ensuring expansion of tax base and enforcement of compliance, easy annual reports, tracing and tracking of companies involved in import or export businesses, as well as easy verification of local partners by international investors.   

Responding, the Registrar-General of CAC, Alhaji Garba Abubakar, commended the ACCI’s proposal which, he said, has enormous potentials to improve the nation’s economic growth. 

While acknowledging the strategic role played by Chambers of Commerce towards the development of economies across the globe, the Registrar-General revealed that in some jurisdictions, Chambers of Commerce operate like company registries.

Alhaji Abubakar therefore pledged to study the ACCI’s proposal within the ambit of the law with a view to implementing it for Nigeria’s economic growth. 

Highlight of the visit included the submission of the draft proposal by the ACCI.