The Corporate Affairs Commission (CAC) has announced that its newly launched artificial intelligence-powered platform, the Intelligent Companies Registration Portal, now handles over 11,000 company registration and compliance cases daily.
The commission highlighted that the portal recently handled 8,000 name reservation requests within a single day, a process that previously took at least two weeks to complete under the old manual system.
In response to complaints regarding service delays and technical issues with the new AI-driven portal, the commission provided the following clarifications to address user concerns.
A statement from the Corporate Affairs Commission’s management appealed for patience amid initial challenges and user complaints, especially from legal practitioners and business owners, regarding glitches and delays on the agency’s newly launched online registration portal.
Nonetheless, the commission rejected allegations suggesting poor service delivery and dismissed claims that these issues undermine the ease of doing business in Nigeria.
The statement further explained, “In line with the provisions of the Data Protection Act, 2023, the Commission has implemented additional security measures within the newly deployed Intelligent Companies Registration Portal to prevent users from sharing access with third parties or operating multiple suspicious accounts.”
The CAC announced an upgrade to its system but did not provide a specific timeline for when full functionality would be restored. The agency also declined to comment on the expected completion date.
Before this upgrade, CAC’s online platforms already experienced operational difficulties. Business name registrations typically took around 24 hours to process, while incorporations for limited liability companies could take up to five days.
Regarding registration delays caused by data verification challenges, the CAC explained that technical issues with the National Identity Management Commission (NIMC) necessitated the implementation of alternative technologies for user verification. At the same time, the commission has expanded its payment gateway options to enable seamless real-time transactions.
“The commission has already submitted requests for additional payment gateways, which are currently being addressed,” the statement noted. It also emphasized that the Intelligent Companies Registration Portal (ICRP) collaborates with trusted partners, such as Remita, to facilitate payments for stamp duty and service fees.
To strengthen data privacy and prevent misuse, the CAC affirmed that the new portal fully complies with the Data Protection Act of 2023. This includes enhanced security measures such as mandatory One-Time Passcode (OTP) authentication for every transaction.
“These measures ensure that users do not share their access credentials with third parties or operate multiple suspicious accounts,” the CAC concluded.
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