The Corporate Affairs Commission (CAC)
says it would start promoting statutory compliance by rewarding companies that
have duly complied with its specified requirements, stated in the
Companies and Allied Matters Act.
CAC has the statutory responsibility of
registering companies operating in Nigeria.
Bello Mahmud, registrar-general, CAC,
said at a pre-event briefing for the commission’s maiden Annual Corporate Citizen
Award slated for May 21 that the award was meant to reward corporate
excellence in all sectors of the Nigerian economy.
The award would celebrate achievements
in business and entrepreneurship and also would stimulate economic objectives
while improving Nigeria’s rating in the global competitive index of doing
business, Mahmud said.
The award is further expected to
position the companies for global attractiveness through high rating by the
CAC.
The registrar-general further said the
awardees must have fully complied with the requirements of the companies and
Allied Matters Act as well as industry regulations.
They would also have performed well in
the area of corporate social responsibility and must have impacted positively
in the industry which they operate.
-Harrison
Edeh
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