Corporate Affairs Commission (CAC) Removes the Requirement for Proficiency Certificate

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The Corporate Affairs Commission of Nigeria has removed the requirement for Proficiency Certificate.

This review was made by the management of CAC on the 19th of April 2018 in furtherance to its reform initiatives. Under this new arrangement, members of the public are not required to submit Proficiency Certificate to the Commission for registration of Companies, Business Names and Incorporated Trustees.

In the past, the Proficiency Certificate was requested when the company you want to register is to offer professional services such as legal services, estate survey and valuation, security services, financial management, media consulting and medical services, among others.

Below were the certificates required for some entity:

1. Registration of Nursery/ Primary School,
Certificate required by CAC: N.C.E/ B.Ed.

2. Registration of Secondary School,
Certificate required by CAC: B.Ed.

3. Registration of Post-Secondary School,
Certificate required by CAC: M.Ed, PGD. Ed, Phd (Edu).

4. Registration of Investment/ Mutual Fund Company,
Certificate required by CAC: SEC Authorization.

5. Registration of Advertising/ Media/ Marketing,
Certificate required by CAC: APCON.

6. Registration of Engineering/ Construction,
Certificate required by CAC: COREN.

7. Registration of Microfinance Bank/ Bank/ Any Other Financial Services,
Certificate required by CAC: CBN Authorization.

8. Registration of Insurance Company,
Certificate required by CAC: NAICON Authorisation.

9. Registration of Consultancy/ Management,
Certificate required by CAC: Masters Degree in the related field.

Etc.

The removal is a good development and it improves ease of doing business in Nigeria.

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