The Office of the Registrar of Companies (ORC) says it has close to one million companies sitting in its books that are defunct.
This was revealed by the Registrar of ORC, Mrs. Jemima Mamaa Oware, when she appeared on the Scoop, a segment on the GTV Breakfast Show on Tuesday, September 6, 2022.
According to her, most people go all out to register a business or businesses just to acquire either visas, contracts, or for marriage purposes.
She was of the view that most people do not understand the rudiments of company law. Thus the need for public education and sensitisation.
Mrs. Oware, therefore, urged owners of businesses to regularly update their particulars at the ORC on whether new directors have been added, changed, or dead to ensure that their particulars are up to date.
“Why do you register a company if you don’t have a need for it?” She asked.
The newly created Office of the Registrar of Companies (ORC) would take charge of the administration of the registration of companies and businesses in the country.
The ORC, a statutory entity derived from the Registrar-General’s Department, is entrusted with the important function of undertaking the task of company and business registration and providing advisory services.
Operating as an autonomous body, the ORC would handle the registration of businesses such as private-public companies limited and unlimited by shares, and private-public companies limited by guarantee, including churches, schools, NGOs, CSOs, associations, unions, external companies, and professional bodies.
