CAC Announces Its AI Business Registration Portal Now Handles Over 11,000 Daily Transactions Despite Technical Hurdles, Confirms Fee Adjustments

The Corporate Affairs Commission (CAC) of Nigeria has made a big move in digital transformation. Since launching its new AI-powered business registration portal on June 30, the platform now handles over 11,000 transactions every day. This means entrepreneurs can now get their business names approved and certificates issued much faster—often within 30 minutes after their National Identification Number (NIN) is verified.

What’s New and Better?

• Faster Service: In just one day, CAC processed 8,000 name reservation requests—a process that used to take two weeks.
• No Upfront Payment: Users can now test several business name options without paying first, which helps reduce financial stress for startups.
• Secure Transactions: One-Time Passwords (OTPs) are now required for all activities to protect user accounts.

The Challenges

Despite the improvements, the platform still faces some issues due to delays from other connected systems:

• NIN verification sometimes fails because the National Identity Management Commission (NIMC) portal goes down.
• Payment problems happen when the REMITA gateway doesn’t work.
• Stamp duty issues occur when FIRS’s ProTax platform is offline.

To fix this, CAC is working on adding an alternative payment option and continues to update the system to improve stability and user experience.

Customer Support and Next Steps

The Commission has set up a help desk that now handles up to 3,000 emails per day, helping users resolve complaints and fix bugs quickly.

To keep improving the platform, new fees will apply starting August 1. These adjustments will support ongoing system upgrades and maintenance.

Why This Matters

This AI upgrade is a big win for small businesses in Nigeria. It makes registering a business faster, cheaper, and easier. It also shows how technology can help formalize the informal economy and support more people to start and grow their businesses.

Entrepreneurs are advised to stay informed, use official support channels, and prepare for the upcoming fee changes.