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Corporate Affairs Commission remits N2.7bn to the Federation account, for the first time

 

Corporate Affairs Commission (CAC) has for the first time ever remitted N2.7bn to the Federation account.

Alhaji Garba Abubakar, the Registrar-General of the commission revealed this in Abuja on Monday.

He said, “For the first time, we (CAC) paid operating surplus of over N2.7 billion to the Federal government.

β€œIn fact, if not for these outstanding operating liabilities, the surplus would have been far more than N5 billion. We are hoping that this year will be different.

β€œWe may be able to give more money to the Federal Government, we are committed to giving more revenue to the Federal Government because we recognize the global economic challenges.

“And as a government organization, we have an obligation to support the government to achieve all its developmental objectives,” he said.

He attributed the wins to policies instituted by his administration.

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