The Corporate Affairs Commission (CAC) has commenced two new forms of business registration pursuant to CAMA, 2020.
This followed the successful deployment of the Online Application for Limited Liability Partnerships (LLPs) and Limited Partnerships (LPs).
Garba Abubakar, the Registrar General made the announcement in a statement by Rasheed Mahe, CAC Head of Media.
Abubakar described the LLP as a partnership arrangement with a legal personality, separate from the partners.
The liabilities of the partners of an LLP are limited to the amount agreed to be contributed or outstanding in the event of winding up.
An LLP shall have at least two “Designated Partners” who would be responsible for compliance with the requirements of the Act by the LLP.
The designated partners should be individuals, at least one of whom must be resident in Nigeria.
However, the LP is a partnership arrangement with at least one general partner and at least one limited partner.
The liabilities of a general partner are unlimited, while the liabilities of a limited partner are limited unless the individual partakes in the management of the partnership.
An LP should not consist of more than 20 persons and that the name of an LP should end with the word “Limited Partnership” or the abbreviation “LP”.
Buhari To Unveil eNaira Tomorrow
President Muhammadu Buhari will formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, at the State House, Abuja, tomorrow.
According to a statement by the Central Bank of Nigeria (CBN) last night, the digital currency was coming after detailed research, spanning many years.
It said, “the launch of the eNaira is a culmination of several years of research work by the CentralBank of Nigeria in advancing the boundaries of payments system in order to make financialtransactions easier and seamless for every strata of the society.
“Following series of engagements with relevant stakeholders including the banking community, fintechoperators, merchants and indeed, a cross section of Nigerians, the CBN designed thedigital currency, which shall be activated on Monday, October 25, 2021.
“The eNaira therefore marks a major step forward in the evolution of money and the CBN iscommitted to ensuring that the eNaira, like the physical Naira, is accessible by everyone.
“Given that the eNaira is a journey, the unveiling marks the first step in that journey, which will continue with a series of further modifications, capabilities and enhancements to the platforms.
“The CBN will continue to work with relevant partners to ensure a seamlessprocess that will benefit every user, particularly those in the rural areas and the unbankedpopulation.
Recovered Loot: Reps Summon CBN, First Bank, Others To Give Update On Recoveries
House of Representives Ad-hoc Committee on the Assessment and Status of All Recovered Loot, Movable and Immovable Assets has demanded for explanation of all recovered loots so far.
To this end, the Central Bank of Nigeria (CBN), First Bank of Nigeria Polaris Bank, Sterling Bank, Nexim Bank, and Heritage Bank have been summoned by the Committee to offer explanation recovered and kept in their vaults.
The Committee, which was chaired by Hon. Adeogun Adejoro at public hearing on Thursday, stopped representative of Polaris Bank after he introduced himself as the Legal Adviser of the bank.
The Chairman insisted that the committee could only speak with the Managing Director of the Bank, noting that the MD must appear before the committee.
“If your bank refuses to come out straight and continue to play pranks with us, we will issue warrant of arrest against your MD. You people can take somebody’s money and start playing with it? 32 Million Dollars is what we are talking about here,” he stressed.
According to the Legal advisor of Polaris Bank, “Monies have been paid to the CBN account, and the CBN has the evidence”.
The Chairman of the Committee, without hesitation asked the CBN director of Money if such was paid into the CBN account by Polaris Bank, an allegation the Director vehemently refuted, saying “the alleged $32 Million is still with them, nothing was paid into the CBN account”.
Hon. Adeogun, therefore, warned Polaris to be mindful of the lies they are telling to the government. He also said, “Polaris Bank Cannot be comfortably owing the federal government and refuse to pay, because, the money is supposed to be used to fund the 2022 budget”.
The committee also summoned the executive director of First Bank Plc, Mr Abdullahi Ibrahim to explain some three pending issues unexplained from his payment.
The director, who corrected them, saying, “it was two unexplained issues, which he explained thus: “Mr Chairman, N2.3 billion was remitted, but was not supported in any bank statement. Another N100 million was deposited as well, but it was not recorded. NNPC advised it should be closed.
“As far as this recovered loot is concerned now, First Bank is not involved in such again, it has been settled. NNPC therefore agreed with the submission by First Bank.”
The committee, insisted on appearance of heads of the affected agencies at an adjourned date slated for Wednesday next week.
OBcrex Foumder Promises Better, Fast Services To Customers
The Founder and CEO of Obcrex, Mr Obi Emmanuel Anthony, has revealed the new identity of rebranded Obcrex and promised better and quick services response rate to customers, as he vowed to be the leading Crypto Trader in Nigeria.
In his statement, Mr Obi Emmanuel Anthony said: “We’re thrilled to unveil our refreshed brand identity. The updates show the evolution of our company since its founding in 2019. While this is a significant change, our core beliefs haven’t changed.”
He stated that the last few months, Obcrex have put in a lot into creating a new image that would accurately depict what the brand represents.
Obcrex has made it a goal to grow with intention as individuals and as a brand targeting to be the best, fast, secure & most trusted crypto / exchange brand.
Adding: “We are empowered by these changes and an overwhelming sense of kingship.”
Obi Emmanuel also assured customers that the new team of like-minded, determined professionals will continue to enable our customer’s success as well as each other’s success within our industry, and beyond
“We have an actively ready team of attendant to listen to all issues you might have. The credibility of the company is beyond compromise as we always work towards 3 values which are speed, reliability and credibility. We’re well known by our regular users as the best,” he averred.
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