By ABUBAKAR YUSUF.
Alhaji Garba Abubakar was appointed Registrar–General, Corporate Affairs Commission CAC with a dual advantage as a lawyer by profession, and an insider spanned for over two decades, armed with the intricacies and wealth of experiences towards repositioning the corridor of economic development of Nigeria in the current digital era.
No doubt, his appointment and confirmation at the heat of global health challenges of COVID among many others, he was able to introduce alot of reforms that had advanced the cumbersome situations hitherto experienced by many Nigerians and foreigners at the commision.
Aside the complimentary roles of mitigating the negative consequences of both health and economic challenges of Nigerians through jobs and wealth creation in line with the federal government mandate of creating 100M jobs, his major efforts at reorganizing the commission as gateway to foreign and local investments became sancrosant, with the dire need of Nigeria towards industrialization.
He ensured the invention of a world class registry of company were all sorts of leakages and fraudulent activities of vendors and staffers was checked, through series of permanent and workable measures put in place to nip in the bud any antics in the commission.
In doing this ,the Garba Abubakar led commission envisaged sharp practices, hence the introduction of electronic registration of companies and rejection of similar companies to avoid fraudulent activities being perpetrated in the times past.
The positive developement had relived the fight against endemic corruption that brought best practices and discipline to the entire system, as well as reprimanded erring staffs along with blacklisting vendors whose intentions was to circumvent due process of the commission.
These checks and balances and other measures had brought to a halt and fight against fraudulent activities, fraudsters from taking over people’s landed properties and assets using fictitious companies in collaboration with some disgruntled staffers of CAC.
This is in line with the Companies and Allied Matters Act (CAMA) 2020 enacted by the National Assembly to protect individuals and corporate investors and their investments in Nigeria, as well as encouraged the influx of genuine business conglomerates who were anxiously waiting for a rejigged government policies that guaranteed both economic and social security.
As part of the reforms carried out after his appointment,he eliminated the incidences of cloned signatures,as there was no more in existence,the ‘Certify True Copies and ‘Certified Extracts Documents’ that was prone to sharp practices and in accordance with the newly enacted CAMA law.
The invention of Data privacy and protection act capable of checking lingering fraudulent acts being perpetrated by both vendors,company registrar’s and investors was no longer in vogue, that had brought sanity into the newly introduced system by Garba Abubakar led CAC.
The review of check list of some services by the commission that brought to an end continuous and deliberate delay in it’s activities was another shining examples of leadership ingenuity, as the organization stopped forthwith the sharing of CAC assess to others to avoid avoidable frauds.
it also introduced insolvency framework and evolve new regulations in it’s activities capable of driving the CAMA rules in compliance to the best practices world over.
The current success stories of Garba Abubakar as the new Registrar- General of the Corporate Affairs Commission CAC had imparted in the image of the country among comity of nations where it will not be seen as dumping ground for sharp practices capable of exposing investors and their investments in Nigeria with a view to drive the economy and other ancillary supports particularly at this critical period of global challenges of COVID-19 and economic recession.
Few years in office, his determination and zeal to achieve results, had encouraged bumper harvest of investment and investors that thronged into the country to engage in all sorts of local and international businesses that had inturn improved both bilateral and other relationships.
With determination to achieve more strides, it is expected that in few years, the new Registrar-General will continue to bring to bare his large wealth of experiences to improved services of Corporate Affairs Commission CAC in Nigeria.
Written By Abubakar Yusuf from Abuja.