Nigeria’s corporate registration process is undergoing a major transformation as the Corporate Affairs Commission (CAC) deploys an AI-powered portal enabling entrepreneurs to complete incorporation within minutes.
CAC Ambassador, Micheal Nwabufo popularly known as Mike Premium, disclosed this in Lagos, describing the platform as a defining milestone in the country’s economic administration.
According to him, the upgraded system integrates biometric identity verification, automated documentation processing and digital certificate issuance, allowing business registration to be completed in about 10 minutes, subject to seamless National Identification Number validation.
He said the reform has triggered a surge in company registrations and generated billions of naira in revenue inflows, strengthening government earnings and improving investor confidence.
The ambassador noted that the portal removes long-standing bottlenecks previously associated with physical visits and manual approvals, replacing them with online verification, instant incorporation, fraud-reduction protocols and API integrations for service providers.
He commended CAC Registrar-General Ishaq Magaji for reform-driven leadership, stating the initiative demonstrates Nigeria’s transition from bureaucratic delays to digital efficiency and transparency.
Calls for Stronger Crypto RegulationWhile praising the reforms, Nwabufo urged stricter compliance within the cryptocurrency ecosystem, warning about rising financial losses linked to unregulated platforms.
He advised digital asset vendors to operate strictly within the framework of the Securities and Exchange Commission Nigeria and cautioned influencers against promoting unlicensed financial platforms.
According to him, content creators should demand verifiable regulatory approval before accepting endorsement deals, stressing that responsible advertising must be anchored on legitimacy and investor protection.
Nwabufo added that Nigeria’s economic progress depends on transparent systems, regulatory discipline and structured digital innovation, particularly across financial technology and emerging digital asset sectors.
Written by Taoreed Abdullahi