CAC Remits N485million To Government’s Coffer


The Corporate Affairs Commission, CAC says it has remitted N485m (four hundred and eighty five million naira) to Federal Government’s coffer.

Registrar General of the Commission, Alhaji Garba Abubakar made this known while speaking with newsmen in Abuja.

Alhaji Abubakar said the remittance covered year 2014 to 2017.

According to him, CAC has also cleared N1.6bn (one point six billion naira) contributory pension of it’s staff for 2017 and 2018.

The Registrar who described CAC as a law abiding government’s Agency said it has been remitting its 80 percent of the Commission’s operating surplus to Government’s coffer in line with the Federal Responsibility Act.

He explained that the Agency realized 36 billion naira in 2017/2018 as against the speculated 600 billion naira.

The Registrar General who said the Agency was a self funding Commission explained that it has been up to date in the payment of staff salaries and allowances as well as other running cost needed for the smooth operation of the Agency.

While describing CAC as being sensitive to the nation’s economy, Alhaji Garba Abubakar said CAC would continue to work with the National Assembly, FIRS and other relevant Government’s Agencies towards repositioning the country’s economy.

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