CAC simply means Corporate Affairs Commission of Nigeria, established in 1990.
It was established by a bill tagged Companies and Allied Matters Act no 1 (CAMA) 1990 as amended.
Presently, the bill is called Act cap C20 Laws of federation of Nigeria.
CAC is primarily charged with the responsibility of regulating the creation and management of companies or business in Nigeria.
CAC carries out its role through the following institutions: Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN),
Accredited Members of Association of National Accountants of Nigeria,
Nigerian Bar Association (NBA), and
Institute of Chartered Accountants of Nigeria.
The Commission is chaired by a
Registrar-General who is the Boss of the Commission and it is made up of 10 members drawn from different stakeholders working with CAC, such as the legal profession, the accountancy profession, and the business community at large.
Their services are categorized into the following:
- PART 1 – Registry
- PART B – Registration of Business Names
- PART C – Registration of Incorporated Trustees (NGO’s)