The Corporate Affairs Commission (CAC) is embracing digital transformation to streamline business registration in Nigeria. By harnessing the power of artificial intelligence (AI), the agency aims to slash registration times from days or weeks to mere minutes, making it significantly easier for entrepreneurs to launch their ventures.
This ambitious move, announced during a collaborative meeting between the Registrar-General and CEO of the CAC, SAN, and the Executive Vice Chairman/CEO of NASENI at the latter’s office, aims to align Nigeria with international standards for business registration. By partnering with the National Agency for Science and Engineering Infrastructure (NASENI), the CAC will develop an AI-powered platform that promises to automate and streamline the registration process.
“Our goal is to make it as easy as possible for entrepreneurs to start and grow their businesses in Nigeria,” Magaji explained. “By embracing AI, we can eliminate bureaucratic bottlenecks and unleash the full potential of our nation’s entrepreneurial spirit.”
The announcement has been met with a mix of excitement and cautious optimism on social media. Many business owners expressed their hope that this move would indeed expedite the registration process, which has historically been fraught with delays. However, some users raised concerns about the potential for job losses due to automation and the need for the CAC to ensure the AI-powered platform is accessible and user-friendly for all.
While the transition to AI-powered registration presents technical and logistical challenges, the CAC is confident in its partnership with NASENI. The agency plans to leverage NASENI’s expertise in developing technological solutions to ensure a smooth and successful implementation.
As Nigeria continues to embrace digital transformation, the CAC’s move towards AI-driven services marks a significant step forward. By simplifying business registration, the CAC is laying the groundwork for a more accessible and dynamic economy, where the barriers to entrepreneurship are lowered and innovation can flourish.
