Just days after news was released that it refused to process a business registration application by Flint API limited, the Nigerian agency Corporate Affairs Commission (CAC) has now registered the blockchain start-up. The agency, however, accuses an anonymous employee of not having processed the request.
The CAC about-face
According to a report, the agency’s annulment of its earlier decision follows an intervention by CAC Clerk General Alhaji Garba Abubakar. As reported by Bitcoin.com News, CAC’s refusal to register the start-up prompted the directors of an incubation hub that hosts Flint API Limited to seek intervention from Nigerian Vice President Yemi Osinbajo.
While there is speculation about Osinbajo’s intervention, however, the Cryptoassetbuyer report suggests that it was Muhammad Abdullahi, an assistant to Abubakar, who helped with the registration process. The difficulty in processing the request was also said to have been the result of an error by an unidentified employee.
Start-up issued with certificate of incorporation
After completing the registration process which would have only taken six hours, Abdullahi then informed Convexity co-founder Adedeji Owonibi of this development. Writing on Linkedin, he said:
Adedeji Owonibi Your application has been registered with RC 1852282. Thank you for contacting us. However, this type of case should be reported through the channels provided by the Commission.
Meanwhile, following this development, the other co-founder of Convexity, Charles Orkafombah suggested via Linkedin that Osinbajo had indeed intervened in the case. He also confirmed that a certificate of incorporation had been issued to Flint API limited.
Do you agree that it was Osinbajo’s intervention that forced the CAC leadership to reverse the initial decision? Let us know what you think in the comments section below.
Emerging markets, Alhaji Garba Abubakar, Blockchain, blockchain start-up, Convexity, Corporate Affairs Commission, Flint API Limited, Yemi Osinbajo