The Corporate Affairs Commission (CAC) has announced plans to integrate Artificial Intelligence (AI) into its operations, starting with a pilot phase focused on business name availability, registration, and the incorporation of limited liability companies.
Registrar-General Hussaini Magaji revealed this during the commission’s first stakeholders’ forum of the year in Lagos.
Represented by his special adviser, Justine Nidiya, Magaji highlighted that more operational features will be introduced after the pilot.
Citing projections that 80% of current jobs may be automated by 2030, Magaji emphasized the importance of adopting AI to keep pace with global trends.
He also disclosed plans to introduce value-added services (VAS) tailored to meet the unique needs of various stakeholder groups.
Licensed organizations with strong APIs will be able to access and extract data in more versatile formats than what is currently offered.
Magaji acknowledged the economic challenges posed by rising fuel prices and forex liberalization, which have increased operational costs.
Despite inflation, he noted the commission has maintained its services and may consider raising filing fees to remain sustainable.
He urged stakeholders to support the rollout of the AI-driven Company Registration Portal (Intelligent CRP 3.0) and to see the formalization of businesses as essential for national development.
According to him, with 90% of MSMEs still operating informally, meaningful progress cannot be achieved without greater business formalization.
Efosa Ewere, chair of the Lagos chapter of the Institute of Chartered Secretaries and Administrators of Nigeria, praised the CAC for its forward-thinking approach with the AI initiative.