The Corporate Affairs Commission (CAC) has announced that its newly launched Artificial Intelligence-powered registration platform, the Intelligent Companies Registration Portal (ICRP), now processes over 11,000 registration and compliance cases daily.
In a statement issued on Sunday in response to user complaints, the commission revealed that the portal recently handled 8,000 name reservation requests in a single day, a task that previously took at least two weeks under the manual system.
The CAC was reacting to concerns from legal practitioners and business owners who had reported glitches, service delays, and other teething problems associated with the new portal. While acknowledging transitional hiccups, the commission insisted that the platform had “greatly improved service delivery.”
“In accordance with provisions of the Data Protection Act 2023, we introduced enhanced security measures, including mandatory One Time Passcode (OTP) authentication for every transaction,” the commission explained, adding that the system now handles over 3,000 user emails daily, necessitating its automation drive.
Dismissing claims of poor service, the CAC said the ICRP has brought efficiency and cost savings to users by eliminating the need to pay before securing company names.
The commission also attributed some delays to data verification issues stemming from the National Identity Management Commission (NIMC), noting that alternative technologies have been adopted for verification, alongside improved payment gateways through partners like Remita.
Reaffirming its commitment to reform, the CAC described the ICRP as a “customer-centric innovation” designed to align with global best practices and support Nigeria’s ease of doing business agenda.
