The CAC statement of compliance is a mandatory page that must be completed when processing a CAC registration for a company. In this guide, I will explain everything you need to know about filing your CAC statement of compliance form and what it actually means.
Just a few weeks ago, a client reached out to me via WhatsApp, asking me to provide details about myself so he could complete the CAC statement of compliance form.
From our conversation, I could tell that he has little knowledge of what CAC expects of us (accredited agents) and even those using the public portal to fill in the form box.
What is the CAC Statement of Compliance?
During company registration, CAC mandates that you fill out a statement of compliance before heading to the documents upload page.
A Statement of Compliance is a declaration by a company applicant or agent that all legal requirements and obligations under the Companies and Allied Matters Act (CAMA) 2020 have been fulfilled for the registration of the company.
Who Can Sign the CAC Statement of Compliance in Nigeria?
The following persons can fill in the statement of compliance form during the registration
- A chattered accountant
- Legal practitioner
- Chattered secretary
- Any other individual engaging in company registration using the public portal
How to Fill the CAC Statement of Compliance Form
When doing CAC registration, the statement of compliance is supposed to be filled out below
For Lawyers, Chartered Accountants, Chartered
If you are doing the registration for a client, fill in the following information
- Your full name
- Accreditation Number, which carries your professional body code e.g ICAN/IND/54, NBA/, with digits
- Your contact address
- Phone number
- Email address
Note: These details should be the same as the details on your accredited agent profile.
If you are using an agent’s account to do CAC registration, you will have to fill in the email address of the owner of the account
For Individuals Doing Registrations for themselves or for others using the Public Portal
This is where a lot of people get confused. If this is you, kindly fill in your information (e.g Director’s Information) if the company belongs to you and you are doing the registration yourself.
If you are doing the registration on behalf of someone, fill in the details of that person in the same way you used them when creating the public account.
You don’t need a lawyer or an accountant’s information for this when using a public portal.
However, for complex registrations like a holding company registration, you obviously need an accredited agent’s account due to the complexity of the job.
So, in summary, the following details will be required of you
- Your full name (of the public account owner, as if it were used to register with CAC)
- The contact address
- Phone number
- Email address
Once you have followed this process and filled in the necessary details, proceed to the documents page, upload documents, make a payment and submit.
Common Mistakes When Filling Statement of Compliance
Below are some common mistakes most people make when filing a statement of compliance
- Not understanding what a statement of compliance is
- Filing wrong information
- Using different information instead of the details of the account holder
- Not being able to provide the signature of the applicant or agent under document uploads
- Using the director’s details or the shareholders’ details while still using an accredited agent portal.
Difference Between Statement of Compliance and Declaration of Compliance
According to Detail Solicitors, the primary difference between the two is that a CAC Declaration of Compliance was a formal, lawyer-signed document under the old Companies and Allied Matters Act (CAMA 1990) requiring attestation before a commissioner of oaths or notary public, whereas a CAC Statement of Compliance is a simpler, self-declaratory statement under CAMA 2020 signed by the applicant or their agent, who is not necessarily a lawyer.
This change to the statement of compliance was adopted to reduce the bureaucratic nature and simplify registrations with the commission.
Importance of Statement of Compliance for a New Company
Without this declaration, the registration of the company will not be completed
The CAC statement of compliance serves as official confirmation that the company has met all legal requirements for establishment under the Companies and Allied Matters Act (CAMA) 2020
This is key towards the company’s success and future. A statement of compliance is not just a form to fill out but a key part of a company’s compliance with corporate governance.
FAQs
Q: Who is authorised to sign the Statement of Compliance?
A: Chattered accountant, legal professional or the applicant processing the registration (when using a public portal)
Q: Is the Statement of Compliance compulsory for all company registrations?
A: Yes. Applicants must fill in the statement of compliance with the right information
Q: Can I register a company without filing the Statement of Compliance?
A: No
Also Read: Full list of CAC share capital
Conclusion:
The CAC statement of compliance has recently caused confusion among applicants processing a company registration with CAC. I hope this guide has provided you with a clear understanding of what it means and how to proceed with filing the form during your next registration.
