Economic Confidential

The Corporate Affairs Commission (CAC) has confirmed the registration of 170,582 companies between January and October 2012 with a generated revenue of over N6 billion.

Registrar-General of CAC, Mr. Mahmud Bello, who made the disclosure said: "This figure consists 74,641 companies, 87,640 business names and 8,291 incorporated trustees."

These figures amount to increases of 10.7%, 18% and 6.7% respectively over the corresponding period in 2011 thus bringing the total number of companies, business names and incorporated trustees to 979,016, 2,041,341 and 54,397 respectively.

The Nigerian Export Import Bank (NEXIM) has so far committed more than N2.5b or nine percent of its total portfolio since August 2009 to the mining sector.

Managing Director/CEO of NEXIM bank, Mr. Roberts U. Orya made the disclosure when he met with the Patrons of the Miners’ Association of Nigeria at the NEXIM House in Abuja to deliberate on a strategic framework the Bank and the Association are developing to better structure and attract sustainable investments to the solid minerals sector.