UPDATE
Blog Update is our latest addition to our website services. Accounting & Reports Hub gives daily updates on the various services we render, such as update on CAC, AFFIDAVITS, NAFDAC, TRADEMARKS, DESIGNS etc.
PUBLIC NOTICE ON THE FULL APPLICATION OF PENALTIES FOR FAILURE TO FILE ANNUAL RETURNS BY COMPANIES AND RECOVERY OF PENALTIES AGAINST COMPANY DIRECTORS AND OFFICERS
The Corporate Affairs Commission wishes to remind the general public and, in particular, Companies operating in Nigeria, their Directors and Officers that the Companies and Allied Matters Act 2020 (CAMA) requires Companies to file annual returns with the Commission in every year. This reminder is informed by what the Commission has observed as large
The Commission wishes to bring to the notice of our esteemed customers that filing of Annual Returns up-to-date and information on Persons with Significant Control (PSC) by entities is mandatory and will be strictly enforced for all processes.
For the avoidance of doubt, sections 417, 773, 822 and 848 of the Companies and Allied Matters Act (CAMA) 2020, makes it mandatory for registered entities to file Annual Returns with the Commission for each financial year.
Section 119 CAMA 2020 also makes it an obligation for companies to file information on Persons with Significant Control (PSC) as defined by section 867and PSC Regulations, 2022.
Henceforth, all entities that are not up-to-date with the above information would not be allowed to process any application or request until same is complied. Appropriate penalties would be invoked against entities that are in default.
This directive shall come into effect from 1 st February, 2023.
Signed:
Management
The Commission wishes to remind Trustees of associations incorporated under the Companies and Allied Matters Act 2020 (or its precursors) of the requirement to file Bi-annual Statement of Affairs of their respective Associations. This is in line with the provisions of Section 845 (1) of the Companies and Allied Matters Act 2020 (CAMA) and Regulation 32 of the Companies Regulations 2021 (as Amended). The Statements are required to cover the respective periods of January 1st to June 30th and July 1st to December 31st of every year. The timelines for filing of the Statements are not later than July 15th (for the Statement ending June 30th) and January 15th (for the Statement ending December 31st).
Trustees should submit the Statement on the Company Registration Portal (CRP).
In addition, Trustees should note that filings made after the respective timelines shall attract daily penalty against each Trustee for every day during which the default continues and in accordance with the provisions of Section 845 (2), CAMA.
COMMENCEMENT OF REGISTRATION OF LIMITED LIABILITY PARTNERSHIPS (LLPs) AND LIMITED PARTNERSHIPS (LPs) AND DEPLOYMENT OF THE REGISTRATION SOLUTIONS ON COMPANY REGISTRATION PORTAL (CRP)
The Commission wishes to inform its esteemed customers and the General Public that it has commenced the registration of Limited Liability Partnerships (LLPs) and Limited Partnerships (LPs). To this end, it has deployed the registration interfaces for LLPs and LPs on the Company Registration Portal (CRP). Customers and members of the General Public wishing to register LLPs and LPs may now do so on the CRP.
The LLP is a partnership arrangement with legal personality separate from the partners. The liabilities of the partners of an LLP are limited to the amount agreed to be contributed or what is outstanding in the event of winding up. An LLP shall have at least two (2) “Designated Partners” who will be responsible for compliance with the requirements of the Act by the LLP. The Designated Partners shall be individuals at least one of whom must be resident in Nigeria. The name of an LLP shall end with the word “Limited Liability Partnership” or the abbreviation “LLP”.
The LP is a partnership arrangement with at least one general partner and at least one limited partner. The liabilities of a general partner are unlimited while the liabilities of a limited partner are limited (unless he takes part in the management of the partnership). An LP shall not consist of more than 20 persons. The name of an LP shall end with the word “Limited Partnership” or the abbreviation “LP”.
Judiciary goes digital with
CoMiS
As part of efforts to digitalise filing processes, the Various States in Nigeria judiciary has
deployed Court Management Information System, (CoMiS) to automate its filing processes.
He assured that CoMiS is a robust system that seamlessly manages all court
processes such as e-Filing, e-Assessment, Payments, Case (Suit) Number
assignment, Case Assignment, Case Management, Applications Management,
Probate Management, Lis Pendens Management, e-Notifications, various affidavits among others
with an embedded system for e-Affidavit generation and validation.
His words: “With this system, affidavits are safe, verifiable and secure. The
Cinfores CoMiS is the court’s present and future. It is currently defining court as a
service, rather than a location, through improved service delivery, which will
support effective justice administration.
“CoMiS was first deployed in Rivers in March 2019, where it has continuously
managed the state’s judiciary’s e-Filing activities. It has since been deployed to
various courts across the country, including the Federal Capital Territory (FCT)
Customary Court of Appeal, Oyo State Judiciary, Kebbi State Judiciary and Osun State High Court, among others.”
