By Grateful Ogunjebe
The Corporate Affairs Commission (CAC) has defended its newly deployed Artificial Intelligence-powered registration platform, stating that it remains efficient, cost-effective and in line with global standards, despite criticisms raised by some legal practitioners.
Responding to a media report titled “Lawyers Decry CAC’s AI Portal, Cite Challenges,” the Commission, in a statement issued on Saturday, 20 July 2025, dismissed the publication as misleading, saying it contained unfounded claims that distorted the realities of service delivery at the agency.
According to the Commission, the Intelligent Companies Registration Portal (ICRP) was developed to improve the ease of doing business in Nigeria. It currently has the capacity to process more than 11,000 applications daily, including 8,000 name reservation requests handled on Friday, 16 July alone.
“The ICRP is undoubtedly a cost-effective system for our valued customers, as they no longer risk losing money on checking name availability. Payment is made only after a name has been successfully secured,” the statement said.
While acknowledging initial transitional issues, the CAC noted that delays in instant registration linked to the National Identity Management Commission (NIMC) portal had been addressed by adopting alternative verification technologies to ensure uninterrupted service.
The Commission also responded to concerns over payment processing, disclosing that a request for additional payment gateways had been sent to the relevant authorities. It added that integration with existing systems, including Remita and stamp duty services, remains active.
On data privacy and account protection, the CAC affirmed that the ICRP complies with the Nigeria Data Protection Act 2023 and employs enhanced security measures such as mandatory one-time passcodes (OTP) sent directly to account holders’ registered emails or phone numbers.
“The portal was specifically designed to prevent users from handing over access to third parties or operating multiple suspicious accounts,” the statement added.
The Commission further revealed that it receives an average of 3,000 emails daily, underscoring the necessity of automation in managing customer enquiries and complaints.
Reassuring stakeholders, the CAC maintained that ongoing reforms would continue to evolve in response to user feedback. It reiterated its commitment to building a customer-focused system that will endure, while strengthening business registration and compliance services across Nigeria.