Just days after it became known that it had refused to process a company registration application from Flint API limited, the Nigerian agency Corporate Affairs Commission (CAC) has now registered the blockchain start-up. However, the agency holds an employee who is not named responsible for not processing the application.
The U-turn of the CAC
According to one report, the agency’s reversal of its previous decision followed intervention by the CAC’s General Registrar, Alhaji Garba Abubakar. As reported by Bitcoin.com News, the CAC’s refusal to register the startup had prompted the directors of an incubation center that houses Flint API Limited to seek the intervention of Nigerian Vice President Yemi Osinbajo.
While there is speculation that Osinbajo intervened, Cryptoassetbuyer’s report suggests that it was Muhammad Abdullahi, an assistant to Abubakar, who helped with the registration process. The difficulty in processing the application is said to be due to a mistake by an employee who was not named.
Establishment with a certificate of incorporation
After completing the registration process, which supposedly took only six hours, Abdullahi informed Convexity co-founder Adedeji Owonibi of this development. On Linkedin he wrote:
Adedeji Owonibi Your application has been registered with RC 1852282. Thank you for contacting us. However, this type of issue should be escalated through the channels provided by the Commission.
Meanwhile, following this development, Convexity’s other co-founder, Charles Orkafombah, suggested through Linkedin that Osinbajo had indeed intervened on the matter. He also confirmed that Flint API Limited had been issued a certificate of incorporation.
Do you agree that it was Osinbajo’s intervention that forced the CAC management to reverse the original decision? Let us know what you think in the comments section below.
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