The Corporate Affairs Commission and the Challenge of Economic Transformation in Nigeria
Loading...
Date
2017
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Economic transformation in Nigeria will entail a transition from the mono-source oil economy to a diversified and competitive economy that is heavy on manufacturing and exportation of goods and services. The Corporate Affairs Commission regulates and supervises the formation, incorporation, registration, management, and winding up of companies. The responsibility also extends to registration of business names, limited and unlimited liability companies, incorporated trustees (communal, religious and charitable associations). The discharge of these functions has however not stopped the relocation of manufacturing companies from Nigeria to neighbouring West African countries. The reliance on market forces, for the purposes of driving economic transformation has not worked in Nigeria as the required infrastructure is either in deplorable state or out rightly non-existent. The article explores Nigeria's challenge with economic transformation and the role of the Corporate Affairs Commission in the Ease of Doing Business in the country