Senate on Tuesday endorsed establishment of Integrated Corporate Commercial Data Management Commission (ICCDMC) , for harmonization of certificates issued by Corporate Commercial Statutory Regulatory Bodies.
The upper legislative chamber therefore, passed for second reading , a bill seeking for an Act of Parliament to that effect.
The Bill titled: “A bill for an Act to Establish Integrated Corporate Commercial Data Management Commission , was sponsored by Senator Yusuf Abubakar Yusuf ( APC Taraba Central) .
Leading a robust debate on the bill, Senator Yusuf said that the proposed commission will serve as a body responsible for comprehensive collation , harmonization of certificates issued by Corporate Commercial Statutory Regulatory Bodies .
He explained further that the bill seeks to establish and undertake the enumeration of all boosting corporate entities registered in Nigeria under one data system and conduct comprehensive review of all certificates, audited report, annual returns filed, certificate of incorporation, tax clearance certificate, pension commission certificate etc .
In his words, “This bill seeks to establish, maintain and update a data bank for continuous collection of data and grading or classification of corporate entities in Nigeria and to provide framework for effective harmonization of activities of relevant regulatory agencies relating to corporate commercial entities in Nigeria.
“To provide framework for effective corporate entities data sharing with relevant government agencies and other stakeholders for the purposes of facilitating National Planning and Economic Development in Nigeria”.
Senator Yusuf explained that the Commission will be self- financing through its Internally Generated Revenue and would not be a burden to the country .
He added that the Commission will not in anyway, have overlapping functions with the Corporate Affairs Commission.
The bill was overwhelmingly supported by the Senators who backed the passage of the bill into second reading, after which it was referred to the Senate Committee on Establishment and Public Service for more legislative inputs.
The Committee was given four weeks by the Senate President , Ahmad Lawan, to report back to the Senate.