The Nigerian Financial Intelligence Unit (NFIU) has said that it would begin to de-register dormant companies, otherwise known as shell companies, from September this year.
Shell companies are inactive entities or companies registered for future purposes.
NFIU Director, Modibbo Tukur, who made this known in a statement made available to newsmen, said that the unit would publish the criteria for companies to keep their registration status.
He said this would rid the system of shell companies that could potentially be used for fraud, adding that for companies to exist, they should have physical addresses.
“If anyone establishes a company, it has to be a company indeed and we have to be firm on this. This has become more important now given the rollout of the Economic Community of West Africa States (ECOWAS) single currency because, with that, we know that capital and investments will move across borders and it is a single currency.
“So, we have to step up regulation to avoid fraudulent transactions. We will begin by September and some companies will have to be deregistered if they do not meet the criteria.
“We will publish the parameters and also give them enough time to regularise after which those that do not comply before the deadline will be shut down.
“If you have an empty company hanging in the system, it is a potential danger and we should not allow it to thrive.”
It would be recalled that NFIU and Securities and Exchange Commission (SEC) signed a memorandum of understanding, last Wednesday, to combat Ponzi schemes and fraud in the capital market.
In another development, the Director, Abuja Liaison Office, Nigerian Shippers Council, Mr Muhammad Abubakar, has urged stakeholders in the sector to patronise the Kaduna Inland Dry Port to enjoy its benefits.
Abubakar made the call at the Abuja Shippers Association’s 2nd Quarter General Meeting in Abuja.
He said that the stakeholders stood a chance to gain more and incur less operating cost if they used the port.
He recalled that a recent executive meeting of stakeholders held last week deliberated on issues bothering on the compliance of members to shipping rules and regulations.
” There was an exciting meeting last week and some of the issues discussed bother on compliance from shippers.
“There are standards, rules and regulations guiding the shipping business and we encourage shippers to abide by them.
“The NSC is always in support of your businesses and we encourage you to always be on the right side of the law.
“Infractions on the part of the shippers constitute major stumbling block on the clearance of the cargo.
“I request the executive members to sensitise the members on the need to be on the right side of the law when conducting shipping business as this is very important.
“Also they should sensitise members on the existence, operations and cost benefit of using Kaduna inland dry port.
“I strongly believe that by patronising the Kaduna Inland Dry Port, you stand to gain more and you incur less operating cost.”
The director said it was important for members to be aware of these things, adding that IF possible, specific programme should be organise to drive these points.
Abubakar also urged the members to avoid cutting corners and ensure they do the right thing at all times.