The World Bank has applauded the implementation of the Treasury
Single Account [TSA] by the Federal Government through Remita, reports
ITRealms.
Remita, ITRealms gathered is the Central Bank of Nigeria (CBN)-approved
payment gateway, and the Online Name
Reservation Portal of the Corporate Affairs Commission (CAC) got the applause
from World Bank for improving the ease of registering companies in Nigeria.
Senior
Special Assistant to the President on Trade and Investment, Dr. Jumoke Oduwole
said this recently at the conclusion of the second Presidential Economic
Communications workshop in Abuja, saying “the World Bank have commended the
ease of starting a business in Nigeria. This is made possible through Remita
and the CAC”.
The Registrar
General of CAC, Bello Mahmoud, said that by year-end, the key objective of the
CAC is to ensure that company names are registered in Nigeria “under 6 hours
and you don't need a lawyer anymore to register a business with CAC”.
In addition, the CAC would upload on
the internet records of all companies registered in Nigeria for easy access by
the public.
In her
keynote address on the implementation of the 2016 budget and outlook for 2017
and beyond, Minister of State for Budget and National Planning, Zainab Ahmed,
said that all salaries, overheads, and debt service payments “are on course”,
as the Federal Executive Council had approved the 2017 Medium Term Expenditure
Framework (MTEF).
She said that
the budget, passed in May 2016, has attained a performance of 41.25% as at
mid-October 2016.
According to
an economist and the workshop facilitator, Dr. Ayo Teriba, who analysed the
current economic situation in Nigeria, the country entered the 2008 global
recession with external reserves of 60 billion dollars, but has entered the
current recession with 40 billion US dollars, while Saudi Arabia entered the
global recession with 600 billion dollars.
However, “the
business climate in Nigeria is expected to continue to experience a boost with
Remita accelerating seamless payment processes into the CAC’s TSA, as GDP
growth is expected to resume in positive direction by 2017”, he said.
No comments:
Post a Comment