Ease of doing business: Name reservation, business registration to now take 48 hours

 

The Corporate Affairs Commission (CAC) says activities like name reservation and registration of new businesses will now take 48 hours.

The commission announced the new timeline for processing of documents in a notice on Tuesday.

This is compared to the one to two week timeline required for business registration.

CAC said name reservation, availability will now take 48 hours, correction of availability to 24 hours, while consent for restricted names, limited by guarantee and incorporated trustees will be processed within five working days

.According to the notice, new registration by companies, business names and incorporated trustees will be processed in 48 hours.

For post-registrations for companies, change of name and deed of release requires seven working days to process.

Search report, letter of good standing, certified true copy of certificate is to be processed within five working days while business names applications and CAC/IT 4 annual returns (incorporated trustees) requires a processing time of three working days.

Documents like post-incorporated trustees application; filing and issuance of acknowledgement letter for annual returns; CAC 10 annual return for a small company; and CAC 10A annual return for a company having shares other than a small company now have a five-day processing time.

The commission said applications originating from state offices requires seven working days while complaint handling takes 72 hours.

“To avoid delay, all customers are advised to ensure that their applications are prepared in strict compliance with our published checklist/guidelines and correct fees are paid,” the notice read.

In July, CAC announced that it will no longer receive visitors at its offices in Lagos and Abuja due to the coronavirus pandemic.

It said documents will be delivered through designated courier companies.

The commission also recently merged business and tax registration.

- THECABLE

Chevron to sack 25 percent of its workforce in Nigeria

Chevron Nigeria Limited (CNL) says it will cut down its workforce in Nigeria by 25 percent across various levels.

CNL disclosed this in a statement titled ‘Chevron Nigeria Limited Reviews Workforce in Accordance with Business Exigencies’, on Friday.

The company said the decision was taken as a result of the prevailing business climate caused by the COVID-19 pandemic and low crude oil prices.

Esimaje Brikinn, CNL’s general manager, policy, government and public affairs, in the statement, added that the 25 percent job cut was to reposition the oil firm for greater efficiency and competitiveness.

“CNL and its affiliates, confirms that it is reviewing its manpower requirements in the light of the changing business environment, while continuing to evaluate opportunities to improve capital efficiency and reduce operating costs,” Brikinn said.

“In this process, the company will be streamlining its workforce and improving service delivery and overall performance at all levels. This will increase efficiency and effectiveness, retain value, reduce cost, and generate more revenue for the federal government of Nigeria.

“It is important to note that all our employees will retain their employment until the reorganisation process is completed.”

Brikinn also dismissed speculations that the exercise was to outsource jobs done by Nigerians to foreigners, adding that CNL is working with its joint venture partners, the Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR), on the process.

“We have prospects for our company in Nigeria; however, we must make the necessary adjustments in light of the prevailing business climate; and we need everyone’s support to get through these tough times stronger, more efficient and more profitable, in order to sustain the business,” he said.

“We are actively engaging our workforce to ensure they understand why this is being done. We will continue to consistently engage all relevant stakeholders, including the leadership of the employee unions as we continue this process of business optimisation.

“Making changes to the organisation is never easy for anyone that will be impacted, but it is necessary to improve our ability to remain competitive in Nigeria.”

However, according to NAN, CNL workers under the auspices of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), during a protest on Friday in Lagos, said 600 employees of the company risked losing their jobs.

- THECABLE

Ekiti bank robbery: Police recover abandoned cars, explosives, phones

 

The Police Command in Ekiti has recovered three vehicles abandoned by robbers who invaded Wema Bank in Iyin-Ekiti on Friday.

The cars are Volkswagen Golf, marked GED 906 AA; Acura MDX Jeep marked LSR 327 CD; and Toyota Camry marked GED 106 ER.

Sunday Abutu, the Public Relations Officer, said Improvised Explosive Devices (IEDs), Indian hemp, alcoholic drinks and two cell phones, were also found.

Abutu, in a statement, recalled that the armed gang numbering about ten stormed the financial institution at about 3:55 pm.

The spokesman disclosed that they overpowered the policemen on guard at the bank due to their large number.

He confirmed that an undisclosed amount of cash was carted away but no casualty was recorded.

Abutu said reinforcement to the scene forced the robbers to retreat with the three vehicles.

The image maker added that operatives chased them and exchanged fire during which they abandoned the cars and ran into the forest.

“The Operatives of the Ekiti State Police Command which comprises the PMF, SARS, SAFER HIGHWAY as well as the local Vigilante group, led by the Divisional Police Officer (DPO), are currently combing the bush for the possible arrest of the suspects.

“The command implores all the good people of Ekiti State to be vigilant and report to the nearest Police Station any suspicious movements or suspected persons or groups of persons they see in their Communities or call Police Control Room on phone Number 08062335577,” he said.

- DAILY POST

Zidane not worried injury-prone Hazard will turn out like Bale

Real Madrid coach Zinedine Zidane is not concerned that Eden Hazard will be dogged by injuries in the same way Gareth Bale was during his spell with the club.

The Belgian forward has been ruled out for up to four weeks, another in the series of injury lay-offs for him.

Hazard was expected to make his return for Real Madrid against Real Valladolid on Wednesday, but he injured a muscle in his right leg on the day of the game.

He has started only 14 league games last season due to two serious ankle injuries.

There are a number of parallels between Hazard and Bale.

He also signed for Real Madrid for 100 million euros (117.13 million dollars) and was haunted by injuries, including having ankle surgery in 2016.

But Zidane does not think Hazard will turn out like Bale, who returned to Tottenham Hotspur last month on loan after starting 145 of 266 La Liga games with Real Madrid.

“No, I’m not worried. I’m positive and I’m positive about Hazard. This is a muscle injury that came about from working very hard to try and get back,” Zidane said ahead of Real Madrid’s trip to Levante.

“The important thing is to now focus on getting him right again.”

Hazard was one of four Real Madrid players to fall injured this week, with Isco straining a muscle on Monday.

Right-back Dani Carvajal was ruled out for two months with a knee injury on Friday, while his deputy Alvaro Odriozola has strained a muscle.

Zidane, however, said he was not worried about the spate of injuries for his side, who have taken seven points from their first three games of the season.

“I’ve always been positive and I don’t think negatively, even when difficulties arise. I don’t like having injuries, but we have to accept them and not look for excuses,” he said.

“My squad has a lot of talent but we also have a lot of heart and we’ll have to keep proving our character on the pitch and be united because we cannot control what happens away from it.”(Reuters/NAN)

EFCC arrests Apostolic Church Pastor Adesoju working in cahoots with Yahoo Boy

 

The Economic and Financial Crimes Commission, EFCC, Gombe Zonal office, has arrested an Ile-Ife, Osun state Apostolic Church Pastor Gbenga Moses Adesoju, in connection with a N12.7m Yahoo Yahoo fraud.

Adesoju was arrested with one Adebayo Olawale of Fashina Road, also in Ile-Ife for defrauding one Umar Hayatu of Lafiya quarters, Dukku Local Government Area of Gombe State.

The duo were apprehended in Ile Ife following a petition jointly written by the relatives of Umar Hayatu.

The petitioners alleged that the suspects conspired and defrauded the victim via social media platforms and phone calls under the pretence that he won a car, some expensive phones and offer of employment into a juicy position.

Adebayo, the prime suspect, contacted the victim using fake Facebook account names; Williams Angellina and Omolola Adebayo.

He deceived the victim into believing that his Adebayo parents have a Company abroad and will make Hayatu the Nigerian Manager of the Company in Lagos.

The suspect further sent the victim various fake pictures of houses and cars that would be given to him as fringe benefits as soon as the company commences operation.

He also promised him 30,000 US Dollars and expensive gifts such as iPhone and Jewelleries.

Preliminary Investigation revealed that N12, 798, 387.00, proceeds of the fraud, were traced to the suspect’s account in a new generation bank.

Pastor Gbenga, his alleged accomplice received a car (BMW), a plot of land and various sums of money from the proceeds of crime for his spiritual intervention.

Both suspects have volunteered useful information and would be charged to court as soon as investigation is concluded.

- PM NEWS

Lagos confirms NNPC pipeline leakage, warns residents

 

The Lagos State Government on Saturday announced “a major pipeline leakage” in the metropolis.

The affected facility is a Nigerian National Petroleum Corporation (NNPC) pipeline at Abule-Soba.

A statement by Gbenga Omotoso, Commissioner for Information, confirmed the incident.

He said the Lagos State Emergency Management Agency (LASEMA) officials were at the scene.

“The agency and other first responders remain on high alert. The NNPC has been informed of the incident”, he noted.

Omotoso advised residents in and around the area to be cautious.

He said this would prevent explosions as experts handle the situation.

- DAILY POST

Adeboye: Nigeria may break up if not restructured

 

Enoch Adeboye, general overseer of the Redeemed Christian Church of God (RCCG), says the country may break up if it is not restructured.

Speaking at a symposium with the theme, ‘Where will Nigeria be in 2060’, on Saturday, Adeboye said Nigeria should develop a system that is unique to it.

The symposium was to commemorate Nigeria’s 60th independence anniversary.

The pastor said Nigeria should continue to attempt different forms of government until it finds one that works for it.

“Why can’t we have a system of government that is 100 percent Nigerian, unique to us? For example, we started on with the British system of government, somewhere along the line, we moved over to the American system of government,” the cleric said.

“Can’t we have a combination of both and see whether it could help us solve our problems because in mathematics if you want to solve a problem, you try what we call real analysis, then if it doesn’t work, then you move on to complex analysis and see whether that will help you.

“If that fails, you move on to vector analysis and so on. I believe that we might want to look at the problems of Nigeria in a slightly different manner. Some people feel that all our problems will be over if Nigeria should break up.

“Why can’t we have a system of government that will create what I will call the United States of Nigeria? Let me explain. We all know that we must restructure. It is either we restructure or we break, you don’t have to be a prophet to know that one. That is certain – restructure or we break up.

“Now, we don’t want to break up, God forbid. In restructuring, why don’t we have a Nigerian kind of democracy? At the federal level, why don’t we have a president and a prime minister?”

Adeboye also said the place of traditional rulers should not be expunged from society.

“Go to any town in Nigeria, everybody in the town knows the paramount ruler in the town and they respect him (but) many of them don’t even know the name of the chairman of their local government,” he said.

“The traditional rulers are the actual landlords, they control the respect of their people. Their people will listen to them much more, I am sorry to say, than they will listen to some politicians.”

- THECABLE