The Corporate Affairs Commission is a regulatory body charged with the responsibility of incorporation, running, and winding up of companies, business names, and incorporated trustees in accordance with the Companies and Allied Matters Act (CAMA), with a power vested upon it by the Law.
The corporate affairs commission is incorporated into the Nigerian legal systems and has gone through numerous evolution processes, ranging from The Companies Ordinance 1912, 1922, The Companies Act 1968 to the Companies and Allied Matters Act (CAMA), 1990 till date, with inclusive remarkable innovations.
Established by section 1 of the Companies and Allied Matters Act (CAMA) as a corporate body with an all-time valid succession and a common seal, capable of suing and being sued in its corporate name, as well as acquiring, holding or disposing of all types of property for the purpose of exhibiting its functions.
Functions Of CAC
Importantly, the CAC is created to administer acts and services such as;
- Performing specified functions by any act or enactment.
- Administration of an act, regulation, and supervision of act formations, incorporation, management, winding up of companies.
- Establishment and maintenance of company registries and offices, across all states of the federation.
- Adequately and suitably discharging its functions under the Act or any law is respect of which it is charged.
- Obligation to conduct searches into the affairs of company bodies and stakeholders, and meet public demands.
Alhaji Garba Abubakar is currently the Registrar General/CEO of the Corporate Affairs Commission (CAC).
He was appointed on 7th January 2020. Alhaji Garba Abubakar obtained his law degree at the Ahmadu Bello University, Zaria in 1988 and was called to the bar in 1989.
He is the Chief Executive Officer of the Federal Ministry of Justice; and of the commission, he is in absolute control of its daily running and management.
Other governing bodies in the board of commission include;
- The chairman is appointed directly by the President of the Federal Republic of Nigeria, based on the recommendation of the minister.
- A representative of the Legal profession.
- A representative of the Accounting profession.
- One who oversees and heads the Manufacturers Association of Nigeria.
- A representative of the Nigerian Chamber of Commerce, Industries, Mines, and Agriculture.
- An overseer of the Securities and Exchange Commission.
The CAC is also in charge of the registering of Business names, Incorporation of Trustees, and the overall provision of a wide range of supplementary services. As an aside in the commission; it has been posited that the commissions’ functions should not machinate or affect the securities and exchange commission’s powers, duties, or its jurisdiction under the Investment and Securities Act.
Application into the commission requires candidates to be;
- Graduates of certified tertiary institutions.
- Citizens of the Federal Republic of Nigeria.
- A B.sc, HND, or OND holder in Law, Accounting, or any recommended degree course stated on the commissions’ website.
- Computer literate with excellent communication skills.
Applicants should visit the website www.cac.recruitment.gov.ng for a guide on the portal login, credentials upload, and more information on CAC recruitment procedures.