CAC Unveils Registration Of Two Million Businesses

President Bola Ahmed Tinubu’s target of 50 million jobs for Nigerian youths has received a boost as the Corporate Affairs Commission (CAC) unveiled the registration of two million businesses.
This was revealed by the Registrar-General and CEO of the CAC, Hussaini Ishaq Magaji, SAN, at a ground-breaking ceremony in Abuja. The event held at the Bank of Industry (BOI), chaired by the Minister of Industry, Trade, and Investment, Dr. Doris Nkiruka Uzoka-Anite, is being facilitated by Moniepont.
Hussaini Magaji said the registration of the new business was part of the CAC’s contribution to the realisation of the present administration’s economic revival plan. The CAC boss therefore expressed delight over the collaboration with moniepoint to develop the MSMEs sector, which will undertake the project at proposed discount rates to ensure Nigeria’s economic development.
In a remark, Moniepoint Executive Babatunde Olofin stated their readiness to actualize the project in line with the present administration’s economic revival agenda. In her remarks, the Minister of Industry, Trade, and Investment, Dr. Doris Nkiruka Uzoka-Anite, described the event as a landmark achievement through the use of information technology to catalyse the economy.
She therefore said that job creation to revolutionise the economy was part of President Bola Tinubu’s eight-point agenda aimed at financial inclusion, poverty alleviation, and economic empowerment.
The Minister stated the government’s readiness to grant the needed intervention for the project, which is the first of its kind in the country’s history, in order to create jobs and provide an enabling environment for businesses to thrive.High point of the event was the handling of the Moniepoint box containing the proposed two million new businesses set to be formalized.
CAC News recalls that President Bola Ahmed Tinubu had reiterated his commitment to economic revival in November 2023 by targeting the creation of 50 million jobs in fulfilment of his campaign promises.

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