Nigeria: LCCI Decries Delay in Registration of Businesses By CAC

The Lagos Chamber of Commerce and Industry, LCCI has expressed concern over the frustrations faced by investors in the course of business incorporation.

The Chamber in its communiqué after its meeting held last week and signed by its Director General, Muda Yusuff stated "Rather than live up to the high expectations of better service delivery promised few months ago, the quality of service at the Corporate Affairs Commission, CAC has deteriorated.

Rather than take the promised 24 hours, business incorporation now takes well over one week in most cases. A major component of the Ease of Doing Business Report of the World Bank is the ease of business registration.

The performance on this score is not satisfactory. Council urged the management of the CAC to urgently fix these shortcomings to realise the dream of making the country a leading investment destination in Africa.