Corporate Affairs Commission (CAC) has owned up its mistake in regard to a statement it issued on the minimum paid up Capital for companies with foreign participation and asked for forgiveness..
In a statement on its Twitter handle, CAC asked companies and Nigerians to disregard an earlier statement in this regard, saying: “our dear esteemed customers and the general public are hereby advised to disregard our earlier issued notice titled “Minimum Paid-Up Capital for Companies with Foreign Participation”
“Our initial notice with reference to paid-up capital rather than issued capital was based on the Federal Ministry of Interior Handbook on Expatriate Quota Administration 2022 Revised Edition, as indicated on page 5.
“We shall issue an amended notice with regards to the above in due course.”
