Examining The Corporate Affairs Commission In The Treasury Single Account Scheme

by Eromose Ileso
                                         

In the past, precisely before and shortly after the new administration, when you visit Corporate Affairs Commission (CAC), you can pay for services in their offices. Services that range from reservation of name, registration of business name and other copious services that is done at their offices could be paid for after the necessary conclusion of inquiries. 

However, all these have changed as money no longer exchange hands in the offices of the CAC. This is as a result of the introduction of the treasury single account (TSA) scheme which means that all monies are paid directly into the confers of the Federal government at any designated bank account through the Remita platform by which the TSA is operated.

The banks usually log into remita session designated for the Corporate Affairs Commission from which monies are paid to the treasury single account. However, one draw back about this laudable development is that most times the website is either inaccessible or it is completely down due to traffic. 

This is the reason why many Nigerians are reluctant to embrace a full fledged elimination of paper based transactions, because of how often these website break down especially at peak times of the day.

There was a story of a legal practitioner who wanted to make payment for name reservation at a bank. He was first at the United Bank of Africa (UBA), where he was told that the website was down. This was around noon. A shot walk to the nearby First Bank yielded the same result as the website was said to be down since morning.

It is common in most Nigerian institutions that when a website is down, it could be so for the entire day. And this can be very frustrating especially for a person that is walking within a time scale.

The remita site through which payments are made for services rendered by the Corporate Affairs Commission is specially designed in such a way that it can generate exactly where the payment is being made when the services being paid for his typed into the various column provided in the website. Yet, it is always advisable for anybody to approach the bank when making any payment as there would be a direct evidence of payment.

This is how the site looks: Payments To Billers & Collectors

When you click the column to select purpose of service, a list of services one can pay for through this platform that CAC offers like reservation of name, registration of business name, filing of annual returns, change of business name or address, registration of private or public limited company, registration of incorporated trustees are just a few of the services that would come once you click that column.

From this window, it is easy to see that typing business name registration into the column for purpose of services resulted in the generation of other columns. This is what occurs when other purpose of service is typed into the same column, it generates other columns that is related to the purpose of registration under which the transaction is being carried out.

However, it is not yet uhuru as far this service is concerned, which is why caution is required when any decision is taken to use this portal. 

As stated earlier, it is always best to use a designated bank to make payment which certainly would be through the same platform. The difference is that the bank serves as a strong evidence of payment for any services..