The Federal Government of Nigeria has reaffirmed its steady commitment to creating an enabling environment for entrepreneurs, supporting innovation, and attracting much-needed investments. This crucial move is aimed at significantly enhancing the ease of doing business in the country, as underscored in Executive Order No 1 of 18th May 2017.
To uphold this commitment, Ministries, Departments, and Agencies of the Government (MDAs) have been directed to publish the services they offer, along with the necessary requirements for accessing these services. This transparent approach is expected to streamline processes and provide entrepreneurs and stakeholders with clearer insights into the procedures involved.
In line with this objective, a workshop was organized to discuss and present the guidelines for the incorporation of companies limited by guarantee (Ltd/GTE). The esteemed gathering, including representatives from the Nigeria Bar Association, Corporate Affairs Commission, promoters of companies limited by guarantee, and other stakeholders, convened to deliberate on achieving consistency in processing applications for the mandatory authority.
Mrs. Beatrice Jeddy-Agba, the Permanent Secretary of the Federal Ministry of Justice and Solicitor General of the Federation, emphasized the significance of these guidelines, a first-of-its-kind in Nigeria. Designed to address various issues related to the subject matter, the guidelines aim to facilitate seamless registration processes and overcome common challenges faced during the application for the Attorney-General’s authorization.
During the workshop’s welcome address, Mrs. Gladys Odegbaro, Director of the Solicitors Department, emphasized the workshop’s role in deepening participants’ understanding of the regulatory framework governing companies limited by guarantee. The goal is to promote compliance with the law while fostering transparency and accountability within their respective organizations.
The Executive Order and the guidelines for incorporating companies limited by guarantee are essential steps taken by the government to empower MSMEs, nurture innovation, and create an investor-friendly atmosphere. These initiatives are expected to have a positive impact on the ease of doing business in Nigeria, thereby encouraging more entrepreneurs to thrive and contribute to the nation’s economic growth.
