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Breaking: CAC Order Firms To Validate Bank Account Before March 31st

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Breaking: CAC Order Firms To Validate Bank Account Before March 31stBank,

The Corporate Affairs Commission (CAC) has ordered all registered firms till March 31st to validate their bank accounts or get sanctioned.

Its Registrar General, Garba Abubakar vowed firms who have refused to validate their accounts will not be accredited and would have to go through a rigorous process of revalidation, After April first.

Abubakar told reporters, at a press conference in Abuja, Where he stated the needs by firms to update their information as the commission is considering an amnesty for a certain number of years on annual return filings, even though the details have not been completely worked out.

Garba Abubakar spoke extensively on the workings of the upgraded CRP,  enjoined the Commission’s accredited Customers “to strive to revalidate their account on the Portal before the end of March 2021 as that was necessitated by the fact that some customers were now deceased, changed details or their location without updating the database amongst others.”

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He stressed that “any account not revalidated by the deadline will cease to have an effect by 1st of April,2020 until the Customer comes forward to re-validate.”

Garba Abubakar, however, said the right of public users to register companies on their own remains sacrosanct as there’s an interface for accounts by public users.

Corporate Affairs Commission

Garba Abubakar further revealed that the interface for the Registration of new legal entity types introduced by the CAMA,20 namely: Limited Liability Partnership LLP and Limited Partnership will be unveiled by 1st of April,2021.

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Banking

Access Bank Shares gain N44.4 Billion In First 10 Days Of Trading

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Market capitalization moved from N300.36 billion as at the 4th of January, 2021 to N346.57 billion.
The shares of Access Bank Nigeria Plc have gained N44.4 billion since the commencement of trading at the Nigerian Stock Exchange (NSE) market on the 4th of January 2021 – 10 days of transaction.
This was uncovered by Nairametrics after tracking the performance of the shares of the bank on the floor of the NSE.
This is sequel to efforts by the group to further expand its territory and consolidate on its growth potentials, evident by its obtaining of regulatory approval to operate as a holding company and completion of the Cavmont Bank Limited deal, as reported by Nairametrics.
Nairametrics learnt that a combination of impressive financial performance by the group, evident by its 9M 2020 results, and the increased buying interest in its shares, all contributed to the upward movement of the bank’s market capitalization, from N300.36 billion to N344.79 billion, indicating a gain of 14.8% in the review period.
Things to know
Access Bank Plc had earlier reported a Profit After Tax of N102.3 billion for 9M 2020, up by 15.7%
 
At the time of this report, Access Bank Plc shares traded at N9.7, compared to an opening price of N8.45, indicating an increase of 14.8%.
 
The outstanding shares of the firm currently stand at 35,545,225,622 units.

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Business

Softwork Re-launches With Upgraded Platform

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Job

Softwork, a leading platform with the sole aim of connecting employers with freelancers, has upgraded its services. The live re-launch was held on Friday, January 15, 2020 in Lagos.  The website has a new look which is the least of improved features.
Led by Chigozie Okwara, the founder and CEO of SoftWork, the platform is the bridge between the talented and those in need of certain skills. Speaking at the launch, he said: “Every individual signing up wants to work and exchange vital information in a safe and secure space. We have designed an online platform where freelancers (web designers, developers, video editors, digital marketers, graphic designers e.t.c) can meet.
“We have connected over 5,000 freelancers with employers and every day, we look for ways to verify any individual who signs up on the website. The verification is more intense to avoid fraudsters posing as freelancers or employers. There is the email verification process, Identity card verification process by uploading National ID cards, Passport or Driving License to verify your identity. Without verification, jobs cannot be applied for. It is important employers get the worth for every price paid”.
Softwork is an extremely beneficial platform that does not only connect businesses with ideal skills but dishes out articles on ways to improve by updating those signed up, on the latest trends circling their area of expertise; as well as how they can acquire new skills needed for better work.
Okwara noted that distance is no barrier for work on Softwork, as clients can monitor every work carried out. “Unlike many platforms, we make use of Escrow (making us a third party to the payment process, until the specified job is done). This allows for  a refund in  a situation where there is need for one”.
Since beginning operations fully in 2018, SoftWork has helped reduce the stress freelancers go through to get jobs, and helped employers get reliable services. Freelancers can also get recommendations as well as send proposals to employers, vis-a-vis

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Banking

Access Bank Begins Dollar Payment To Beneficiaries Of Fund Transfer

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Access Bank CEO
Fund Transfer, Access Bank Plc has started nationwide payout of dollars to beneficiaries of international remittances, in response to the recent policy change by the Central Bank Nigeria (CBN).
The CBN had directed that recipients of international fund transfer can now receive their funds in cash in dollars or to have funds paid directly into their domiciliary accounts.
Executive director, retail banking, Access Bank, Victor Etuokwu, in a statement said, “As part of our promise to create value and meet the needs of our customers, we are happy to announce that our customers can now receive funds sent from the diaspora in dollars at any of our branches nationwide.
“The funds will be available as cash pick-up or direct transfer into customers’ domiciliary accounts.”
Etuokwu stated that, “the bank’s promise to deliver more than banking services is even more critical at this time as customers are looking for convenient products and services that facilitate their lifestyle and our remittance services are available to both customers and non-customers of Access bank.
“We encourage Nigerians in the diaspora to take advantage of this season of giving, to send funds home for their loved ones, who in turn can receive either by opening an Access bank domiciliary account or reactivate their inactive domiciliary account and the funds will be paid directly to their accounts or visit any of our 500 branches nationwide to receive their funds in USD cash,” he stressed.
“We maintain a strong relationship with our remittance partners, Western Union, MoneyGram, Ria, WorldRemit, Transfast, Paysend, Shift, Sendwave and other international money transfer services and we are committed to delivering excellent service to all our customers.
Access Bank, over the years, has leveraged technology including advanced analytics, cloud computing, artificial intelligence, machine learning and robotics process automation to reform business operations and drive performance to improve customer experience, he stressed.

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