The Corporate Affairs Commission (CAC) is set to introduce Artificial Intelligence (AI) into its core operations, beginning with a pilot project focused on business name availability, registration, and the incorporation of limited liability companies.
The Registrar-General of the CAC, Hussaini Magaji, announced the development on Tuesday at the commission’s first Stakeholders’ Customers Forum of the year, held in Lagos. Magaji was represented by his Special Adviser, Mr. Justine Nidiya.
He explained that the pilot phase would pave the way for broader adoption of AI across other CAC processes. The decision, he noted, aligns with global forecasts suggesting that up to 80 per cent of current jobs could be automated by 2030.
“The commission is therefore embracing the future by adopting AI,” Magaji stated.
He also revealed plans to roll out additional Value-Added Services (VAS) tailored to meet the specific needs of diverse stakeholder groups. Under this initiative, organisations with robust APIs will be licensed to access CAC data in formats beyond the standard options currently offered.
Addressing challenges facing the commission, Magaji highlighted the impact of foreign exchange liberalisation and rising fuel costs, which have driven inflation and increased procurement expenses. Despite these hurdles, he said the CAC has sustained operations without compromising service delivery.
To maintain efficiency and financial viability, Magaji hinted that a review of filing fees may be necessary in the near future.
He called on stakeholders to support the successful implementation of the new AI-powered Company Registration Portal, dubbed Intelligent CRP 3.0, describing it as a reform that would benefit the entire country.
“The formalisation of businesses must be seen as a national priority,” he stressed. “We cannot achieve meaningful development while 90 per cent of our Micro, Small, and Medium Enterprises operate in the informal sector.”
Also speaking at the forum, Mrs. Ozofu Ogiemudia, Chair of the Nigerian Bar Association’s Section on Business Law, commended the CAC’s proactive approach and emphasis on timely resolution of issues. She underscored the importance of AI in improving operational efficiency.
Ms. Efosa Ewere, Chairperson of the Lagos State Chapter of the Institute of Chartered Secretaries and Administrators of Nigeria, also lauded the AI initiative, noting that it would streamline communication on the CAC portal and improve user experience.
