The Corporate Affairs Commission, CAC, has ordered all businesses operating in Nigeria, to, within six-weeks, comply with the registration requirements of the Companies and Allied Matters Act, CAMA, 2020.

In a circular yesterday, CAC noted that after the ultimatum, it would take necessary legal action against erring offenders who fail to comply.

It warned that is a criminal offence under Section 863 of CAMA to carry on business in Nigeria without proper registration, or to use a name or acronym other than that under which the entity is legally registered.

It added that individuals who violate the Section 862(1) of the Act by knowingly making false statements in any document required under the Act, risk a two-year prison term and a daily fine for each day the infraction continues.

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