In an effort to formalize the industry, the Corporate Affairs Commission has revealed that it has started the process of registering two million small firms.
In a statement released on Friday, the CAC stated that Hussaini Ishaq Magaji, its Registrar-General, had disclosed this information at an Abuja ceremony.
According to him, the registration process is being aided by a relationship with Moniepont in order to promote regulatory compliance, boost economic growth, and promote economic development by raising tax revenue.
Due to the limited number of firms registered in the nation, which has been a problem for the commission, formalizing these businesses is essential for financial opportunities and economic progress.