The Corporate Affairs Commission (CAC) and the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) have entered into a partnership in a bid to strengthen service delivery and ensure economic development in Nigeria.
Speaking in Abuja during a courtesy visit by the BRIPAN delegation to CAC, the Registrar General of the Commission, Hussaini Magaji reaffirmed that the CAC is committed to the development of a full digital database for all practitioners to facilitate business.
“Our relationship with you is rooted in our Establishment Act, particularly Section 705 of Section 1C of the Act.
“Where BRIPAN is recognised as one of the professional bodies whose members are entitled to be given license or authorisation by CAC to practice as insolvency practitioners.
“As a matter of policy, I made it so that we only approve the case for a license to practice as insolvency practitioners when the applicant attaches evidence of membership with BRIPAN.
“We encourage non-members of BRIPAN to show evidence of previous practice.
”This is to ensure professional and effective service delivery,’’ he said.
Magaji said accreditation with CAC gives BRIPAN members, lawyers, and accountants an opportunity to compile online processes for creation, receivership, company voluntary arrangements, netting, and distribution.
On his part, the president of BRIPAN, Chimezie Ohekweazu commended CAC for their efforts towards bolstering professional standards and ensuring ease of doing business in the country.
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“Insolvency is one of the richest areas of practice in Nigeria, but the percentage that has become available to practitioners, or, I would say, tapped, is very low.
“And with these changes, we believe it will continue to graduate from strength to strength. In BRIPAN, we hold strongly to our relationship with CAC.
“The most significant is that we have introduced BRIPAN in all six geopolitical zones in Nigeria, and this effort has been sustained by the recognition of BRIPAN in CARMA 2020.
“And there is a need to open up the insurgency practice to every part of this country and extend it to smaller businesses.
“I must also point out that you have made the business space in Nigeria safe and secure by ensuring that all POS operators are registered” he stated.
Ihekweazu, while expressing BRIPAN’s willingness to continue partnering with CAC, extended an invitation to CAC to its international conference, to be held from Sept. 26th to Sept. 27th.
