Grapevine

By Punch
Jul 27, 2024

CAC issues guidelines for bank recapitalisation

It urged banks to immediately adhere to the policy.

For new incorporations, the CAC stated that intending applicants must submit requirements, including “an approved name reservation or availability, approval-in-principle from sector regulator, duly completed on-line incorporation form and payment of stamp duty and filing fees for the category of license authorisation.”

It added that a certificate of incorporation will be issued within 24 hours for applications that satisfy all requirements for incorporation of companies prescribed in the commission’s operations checklists available at www.cac.gov.ng/resources.