The need to have a body to perform some of the monitoring and regulatory function of the defunct Nigerian Cocoa emerged. At the end of the conference organized by the Association of Nigeria Exporters (ANE) in cooperation with the Nigeria Export Promotion Council (NEPC) on cocoa trade at Akure, Ondo State on the 30th and 31st October, 1986, the formation of COCOA ASSOCIATION OF NIGERIA (CAN) was announced having been formed by those present (farmers, merchants and processors).

The Association was formally inaugurated by the Federal Ministry of Agriculture on the 29th of November, 1986 at Akure, Ondo State and later incorporated as Company Limited by Guarantee on the 15th of September, 1988 with the issuance of a certificate of incorporation No. RC: 118227 by the Register of Companies

The Aims and Objectives include to:

1. Introduce order and discipline into the production and trade in cocoa in Nigeria.
2. Encourage increased production by assisting farmers in timely procurement and distribution of cocoa seedlings.
3. Enhance the age old production of high quality cocoa beans and production of allied products.
4. Maximize the contribution of cocoa to the earnings of members and Nigeria in particular.
5. Ensure that all those involved in production, progressing and trade receive equitable returns.
6. Promote regular dialogue among the various Government, Associations and international bodies in the cocoa trade.
7. Affiliate with others and mostly international bodies involved in the cocoa trade in the interest of the Nigeria coca trade.
8. Collect statistics and be able to forecast yield, grindings and export, to guide member and Government in taking meaningful decisions.