CAC completes incorporation of NNPC
The Corporate Affairs Commission (CAC) has completed the Incorporation of Nigerian National Petroleum Company Limited.
This is in accordance with provisions of the Petroleum Industry Act (PIA) signed into law by President Muhammadu Buhari on 16 August.
The Registrar-General of CAC, Alhaji Garba Abubakar, disclosed this on Tuesday in Abuja at the Quarterly meeting of Heads of Agencies in the Federal Ministry of Industry, Trade and Investment.
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Section 53 (1) of the PIA 2021, requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six-months of the enactment of the PIA.
This is in consultation with the Minister of Finance on the nominal shares of the Company.
Abubakar stated that the registration was completed same day after fulfilling all requirements set for the incorporation of the NNPC LIMITED.
He updated the gathering on the digitization of the Trademark and Patent Registry by the CAC to ensure synergy and eliminate possible conflicts.
The Registrar-General said the project was awaiting clearance from NITDA which was studying the statement of requirement submitted to it.
On the free Federal Government sponsored 250,000 Business names registration, he said in spite of delay from one of the selected Aggregators, the Commission had less than 3,000 applications to wind up the project.
He therefore gave a commitment to ensure completion of the project by first week of October.
CAC completes incorporation of NNPC