The Corporate Affairs Commission (CAC) Wednesday said it had completed the incorporation of Nigerian National Petroleum Company (NNPC) Limited in accordance with provisions of the provisions of Petroleum Industry Act (PIA), 2021 which was signed into law by President Muhammadu Buhari August 16.
Section 53(1) of the Petroleum Industry Act 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 in consultation with the Minister of Finance on the nominal shares of the Company.
Platforms Africa reports that the Registrar General of CAC, the Alhaji Garba Abubakar, who disclosed the development at the quarterly meeting of Heads of Agencies in the Federal Ministry of Industry Trade and Investment, pointed out that the registration was completed same day after fulfilling all requirements set for the incorporation of the NNPC Limited.
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Garba, while also providing update on the digitisation of the Trademark and Patent Registry which was being pursued by the CAC in a bid to ensure synergy and eliminate possible conflicts 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, the registrar general said despite suffering a delay from one of the selected aggregators, the commission had less than 3,000 applications to wind up the project and therefore gave a commitment to ensure completion by first week of October, 2021.
