Corporate Lawyer urges automation of shares allotment on CAC portal

A Lagos based corporate lawyer, Mr Ogedi Ogu, has called for automation of shares allotment and increase on the Corporate Affairs Commission (CAC) portal to enhance service delivery.

In an interview with the Newsmen in Lagos on Tuesday, Ogu said that even though there has been tremendous improvement on the CAC portal, as acknowledged by stakeholders, there was still room for improvement.

“I will like to commend the commission because 2021 has been a better year for lawyers having corporate dealings in the CAC, unlike what the experience was in 2020.

“The interface with the CAC portal has greatly improved; however, there is still tremendous work to be done

“For instance, the CAC must devise a means whereby on its portal, one can increase share capital without having to send it through courier, email or to support units,” he said

The legal practitioner said that when such requests are sent through support units, it often takes a length of time to get feedbacks.

He, therefore, recommended the automation of this process on the CAC portal

“Usually, when messages are sent to the support unit, it takes weeks to get a response, so if the portal is improved on to enable activities like increase in share capital and allotment, it will further enhance the process,” he said

This, Ogu said, would better promote corporate legal practice in Nigeria.