In a bold step toward embracing future-ready governance, the Corporate Affairs Commission (CAC) has announced plans to introduce Artificial Intelligence (AI) into its operations, beginning with a pilot project for the availability and registration of business names, as well as the incorporation of limited liability companies.
This announcement was made during the CAC Stakeholders’ Customers Forum held in Lagos on Tuesday. The Registrar-General, Hussaini Magaji, represented by his Special Adviser, Justine Nidiya, said the AI deployment forms part of a broader reform agenda aimed at enhancing efficiency, transparency, and user experience in the Commission’s processes.
Magaji emphasized the urgency of AI adoption, referencing projections that by 2030, automation could replace up to 80% of existing job functions. “The Commission is therefore embracing the future by adopting AI,” he declared, noting that further integration of AI would follow the pilot phase.
He also unveiled plans to expand Value-Added Services (VAS) that cater to the unique needs of various stakeholder groups. Through these services, approved organizations with advanced APIs would be licensed to access CAC data in more dynamic and customizable formats.
Magaji acknowledged economic hurdles such as currency liberalization and surging fuel costs, which have increased operational expenses. Despite these challenges, he affirmed the Commission’s resilience and hinted at a possible upward review of filing fees to maintain service standards.
He appealed to stakeholders for support in rolling out the Intelligent Company Registration Portal 3.0 (Intelligent CRP 3.0), emphasizing the national importance of formalizing businesses. According to him, meaningful development cannot occur while 90% of Micro, Small, and Medium Enterprises remain in the informal sector.
In support, Mrs. Ozofu Ogiemudia, Chair of the Business Law Section of the Nigerian Bar Association, lauded the CAC for its proactive initiatives and responsiveness. Similarly, Ms. Efosa Ewere, Chairperson of the Lagos Chapter of the Institute of Chartered Secretaries and Administrators, commended the commission’s AI move, describing it as a significant step toward seamless digital communication.
