The Corporate Affairs Commission (CAC) has embarked on a significant overhaul of its services, introducing several key updates aimed at enhancing service delivery and improving the ease of doing business in Nigeria. At the forefront of these innovations is the integration of Artificial Intelligence (AI) features into its Company Registration Portal (CRP), a move that the Registrar-General/CEO of the Commission, Hussaini Ishaq Magaji, heralded as a transformative step for business registration and other CAC services.

This AI-powered portal is designed to streamline the name reservation process, making it as straightforward as opening an email account. According to Magaji, users will benefit from instant approvals for available names, with the system also providing alternative suggestions if the chosen name is already taken. This drastically reduces the time previously spent on business registration, with the target now set at a mere 30 minutes for certificate generation and delivery to the customer's email, facilitated by real-time National Identity Number (NIN) verification. While acknowledging potential delays due to external factors like the National Identity Management Commission (NIMC), where NIN verification occurs, the CAC has implemented contingency solutions, including an AI-powered photo ID matching feature, to mitigate such challenges.

Beyond the immediate improvements, the CAC has also outlined plans for future security and accessibility enhancements. The commission is set to launch two-factor authentication (2FA) and One-Time Password (OTP) verification for all transactions. This crucial security layer will protect business records, ensuring that no alterations can be made without the express knowledge and consent of registered directors. Furthermore, the CAC intends to release its official mobile application by Q3 or Q4 of 2025. This mobile app will enable business owners to conduct seamless transactions and effortlessly track their application statuses on the go.

In a related development, the CAC has established the Administrative Proceedings Committee (APC). This official body is tasked with enforcing the provisions of the Companies and Allied Matters Act (CAMA), imposing penalties for non-compliance, which could range from delisting businesses to issuing fines. The APC will also serve as an adjudicator for disputes and complaints concerning registered businesses across Nigeria. Additionally, as part of ongoing reforms and to support the new digital infrastructure, the Corporate Affairs Commission has announced an increase in several service fees. These revised fees, some of which have doubled while others increased by 50%, are scheduled to take effect from August 1, 2025. The CAC is also expanding its collaboration with private sector players, having received over 100 super agent applications, including submissions from outside the country, with entities like the Nigerian Inter-Bank Settlement System (NIBSS) under review as potential partners.