The Corporate Affairs Commission (CAC)'s new AI-powered registration portal, designed to streamline business registration, has faced technical challenges, leaving businesses and lawyers frustrated.
The Corporate Affairs Commission ( CAC )'s new Artificial Intelligence (AI)-powered registration portal, intended to streamline business registration in Nigeria , has instead encountered significant technical challenges , leaving businesses and lawyers frustrated. Launched on June 30th, the portal promised quicker and easier name reservations, instant approvals for available names, and a streamlined registration process that could be completed within 30 minutes via email.
However, the portal has been inaccessible for weeks, preventing users from performing essential tasks such as conducting name searches, registering business names, filing post-incorporation documents, and submitting annual returns. These issues have raised concerns about the ease of doing business in Nigeria, potentially deterring potential investors and hindering economic growth. Lawyers who act as registration agents have expressed disappointment with the CAC's handling of the situation, citing a lack of transparency and communication regarding the technical difficulties and timelines for resolution. They speculate that the commission's actions may be intentionally frustrating the system to justify a planned fee hike scheduled to take effect in August. The CAC had announced in June a planned review of its service fees, effective August 1st, citing economic realities, rising operational costs, and stakeholder engagement. The commission stated that the fee review is essential for providing efficient and technology-driven services that meet the expectations of stakeholders for the benefit of the Nigerian economy. A lawyer in Abuja, Yomi Ogunsanya, highlighted the detrimental impact on businesses, stating that the situation has made it impossible for them to operate efficiently. He cited a personal client whose business registration has been delayed for over a week due to the portal's inaccessibility, emphasizing the negative impact on investor confidence and the ease of doing business in Nigeria. Typically, registering a business name may take one to two weeks, depending on the CAC's workload. However, the current technical issues are significantly prolonging the process, causing delays and disruptions for businesses
Business Registration Nigeria CAC AI Technical Challenges Ease Of Doing Business Investment
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