…says the target time for CAC business registration is under 30 minutes to generate a certificate and deliver to the customer.
The iNews Times reports that the Corporate Affairs Commission (CAC) has taken a significant step towards enhancing the ease of doing business in Nigeria with the launch of a pilot Artificial Intelligence (AI)-powered registration portal.
This initiative, which was disclosed by the Registrar-General and Chief Executive Officer of the Commission, Hussaini Ishaq Magaji, at the 2025 Stakeholders’ Forum meeting, promises to significantly reduce registration timelines.
The new system allows for instant name reservation approvals, likening the process to opening an email account.
According to the Registrar-General “It is intelligently designed to suggest available alternatives and grant real-time approvals, removing the traditional bottlenecks.”
One of the portal’s standout features is its ability to facilitate business registration using only the National Identification Number (NIN) of a director or proprietor.
Once real-time NIN verification is successful, a certificate of incorporation would be generated and delivered to the applicant’s email within 30 minutes. Magaji noted,
“The target time for business registration is under 30 minutes to generate a certificate and deliver to the customer’s email, subject to real-time NIN verification.”
While acknowledging potential delays due to external validations from the National Identity Management Commission, Magaji revealed that a contingency plan has been built into the platform, using AI-powered photo ID matching to overcome such hitches.
The Commission also disclosed that it plans to introduce a two-factor authentication system with OTP verification for all transactions, ensuring that no changes can be made to company records without the explicit knowledge and consent of the registered directors.
A CAC mobile application is set to be launched in the final quarter of 2025, allowing users to track and manage transactions on the go.
CAC also revealed that it is reviewing over 100 requests from local and international super agents, including the Nigerian Inter-Bank Settlement System, aimed at deepening access and streamlining services.
The Registrar-General said the Commission would commence a review of its service fees effective August 1, 2025, citing the need to maintain service quality and implement ongoing reforms.
The CAC’s adoption of AI technology is part of its efforts to formalize a significant portion of Nigeria’s micro, small, and medium enterprises (MSMEs), The iNews Times reports.
