Subscribe to Updates

    Get the latest news as they happen

    What's Hot

    WAFCON best player, goalkeeper awards go to Ajibade, Nnadozie

    July 27, 2025

    Incredible performance at Rabat as Falcons recover, win 10th WAFCON Title

    July 27, 2025

    Verve Goodlife Promo returns, promises exciting cashbacks

    July 26, 2025
    Facebook Twitter Instagram
    Megastar Magazine
    • Politics

      New APC Chairman: Humanitarian Affairs Minister, Nentawe Yiltwada takes charge as leader

      July 24, 2025

      APC to hold NEC meeting in Presidential Villa, appoint new Chairman

      July 23, 2025

      Igbinedion Wins APC Ovia Bye-election’s Ticket, Heads for House of Representative

      July 20, 2025

      Momodu resigns from PDP, aligns with ADC

      July 17, 2025

      APC wins all chairmanship positions in Lagos LG election

      July 13, 2025
    • Entertainment
      1. People
      2. Events
      3. Fashion
      Featured
      News July 25, 2025

      Miss Tourism Africa and Mister Tourism International 2025 to hold in Plateau

      Recent

      Miss Tourism Africa and Mister Tourism International 2025 to hold in Plateau

      July 25, 2025

      Kaduna Film Festival’s 8th edition with purpose of being change agent

      July 25, 2025

      Spotify: Wizkid emerges first African artist to reach 9 billion streams      

      July 25, 2025
    • Business

      Verve Goodlife Promo returns, promises exciting cashbacks

      July 26, 2025

      Elumelu promises N25 billion to support Lagos food initiative

      July 24, 2025

      Glo subscribers to enjoy device protection

      July 24, 2025

      Shaping Africa’s Payment Future for More Than 15 Years

      July 24, 2025

      Lagos N500bn fund: Sanwo-Olu, Abiodun, Bago, Ododo inaugurate, boosting food supply

      July 23, 2025
    • Health

      LASEPA, UNIDO, Japan govt unite to train food vendors, waste workers in Ikorodu to fight epidemic

      July 26, 2025

      JDPC sets up Trauma Centre for victims of attacks in Plateau

      July 16, 2025

      Healthcare centre named after Remi Tinubu in Lagos

      July 11, 2025

      First Lady, Oluremi Tinubu inaugurates 30-bed Primary Health Centre in Lagos

      July 10, 2025

      Sterling Bank recognised for 2025 Nigerian Healthcare Excellence Awards

      July 4, 2025
    • Culture

      Rite Foods Powers Ojude Oba Festival, Adds Colour to its Festivities, Reinvigorates Participants with Its Award-winning Brands

      June 11, 2025

      Glo Celebrates 20-Years Of Showcasing Ojude Oba To The World With Gifts Of Cars, Tricycles And More

      June 9, 2025

      House Of Adron Illuminates Ojude Oba Festival With Grandeur, Honours Awujale Of Ijebuland

      June 8, 2025

      Ijebu Ode aglow with grandeur, culture at Ojude Oba festival

      June 8, 2025

      2025 Durbar Festival: Crowd gather in Ilorin to celebrate in grand style

      June 8, 2025
    • Lifestyle

      TOOF Champions a Defining Moment for Nigerian Art at Old Masters by Future Masters Exhibition

      July 23, 2025

      What Would an African SDG Treaty Look Like?

      July 21, 2025

      Golden Jubilee: Makinde lauds Alaafin at 50th celebration

      July 17, 2025

      Beware: Almost got Initiated into witchcraft on internet – Olayode

      July 16, 2025

      Destiny, Endurance and Victory of Oba Sikiru Adetona, the Awujale of Ijebuland

      July 15, 2025
    • Sports

      WAFCON best player, goalkeeper awards go to Ajibade, Nnadozie

      July 27, 2025

      Incredible performance at Rabat as Falcons recover, win 10th WAFCON Title

      July 27, 2025

      Battle ground set for Nigeria-Morocco in WAFCON final

      July 26, 2025

      Golden Eaglets, Falconets get new coaches – NFF

      July 26, 2025

      Morocco’s mentally ready to face Nigeria – Vilda

      July 26, 2025
    • Contact
    YouTube Facebook Instagram WhatsApp
    Megastar Magazine
    Home»News»CAC, using AI, will register company within half an hour timeframe
    News

    CAC, using AI, will register company within half an hour timeframe

    Ifetayo AdeniyiBy Ifetayo AdeniyiJanuary 21, 20254 Mins Read
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email Telegram
    Share
    Facebook Twitter WhatsApp Telegram Email

    CAC, using AI, will register company within half an hour timeframe

    CAC, using AI, will register company within half an hour timeframe.

    The Registrar-General/Chief Executive, Corporate Affairs Commission (CAC), Mr. Hussaini Magaji, yesterday said all business registration with the commission would soon be fully driven by Artificial Intelligence (AI) to further simplify processes and enhance ease of doing business in the country.

    He said advancements in AI could handle routine operational tasks such as business registration, freeing resources for more complex compliance and enforcement activities.

    Magaji spoke at the opening of an in-house compliance and enforcement training workshop for CAC staff with the theme, “Re-engineering the Commission for Effective Discharge of Compliance and Enforcement Mandates to Ensure Efficient Management of Corporate Vehicles” in Abuja.

    He said business registration was currently online end-to-end, adding that there’s no longer manual services – a situation that enables registration in real-time from anywhere in the world.

    He said the commission had already delivered on the 24-hour registration timeframe it earlier promised, though some may linger up to three days depending on the volume of inflows and applications to its portal.

    Magaji said in less than a month, all operations would be driven by AI to further achieve a 30- minute registration timeframe, “God willing”.

    He further clarified that contrary to speculations, the CAC statutory mandate was not restricted to administering the Act in the areas of registration and supervision of formation, incorporation, and striking-off and winding up of companies.

    CAC, using AI, will register company within half an hour timeframe.

    He said the commission has a duty to also ensure proper regulation and management of companies.

    He also unveiled plans to strengthen its compliance and enforcement mandates, with a focus on formalising businesses and enhancing post-incorporation compliance.

    Magaji called for a paradigm shift in the commission’s operations, emphasising the importance of compliance and enforcement functions beyond the routine registration of businesses.

    He said, “One of the key priorities I identified upon assuming duty on October 16, 2023, was the need to bring the commission’s regulatory and management functions to the forefront.

    “This led to the inclusion of compliance enforcement as a key component of my four-point agenda.”

    He also highlighted the success of the PoS Formalisation Project, which had registered about 100,000 operators under the requirements of Section 863(1) of the Companies and Allied Matters Act (CAMA) 2020.

    He explained that the project aimed to formalise at least 250,000 operators in the sector, as part of broader efforts to regulate about 40 million micro, small, and medium enterprises (MSMEs) in the country.

    Magaji said, “Formalisation is the first step for legitimate business operations and access to government interventions.

    “It also mitigates the risks associated with unregistered businesses, such as money laundering and terrorism financing.”

    He also revealed plans to implement sanctions for PoS operators who fail to comply with formalisation requirements, stressing that multiple registrations across fintech platforms are unnecessary as one registration suffices.

    Nonetheless, he emphasised the need to prioritise post-incorporation compliance, which he described as a sustainable revenue stream for modern registries.

    He said plans were underway to address issues about shell companies, opaque ownership structures, and proper disclosure of persons with significant control, in line with global standards and the Persons with Significant Control Regulations.

    The CAC boss said, “This training will position our staff to undertake compliance enforcement and inspection duties with confidence.

    “It also marks the start of our drive towards a hyper post-incorporation compliance mode.

    “The training includes technical sessions on statutory books, records, returns, and filings for registered entities, with input from resource persons from law enforcement agencies to share practical experiences.”

    He urged participants to engage actively and embrace the reforms as part of efforts to align the commission’s operations with global best practices.

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Previous Article774 councils to open dedicated accounts with CBN for disbursement – ALGON
    Next Article Man To Ride Bicycle From Akwa Ibom To RCCG Redemption City In Lagos For Pastor Adeboye’s 83rd Birthday
    Ifetayo Adeniyi
    • Website

    Adeniyi Ifetayo Moses is an Entrepreneur, Award winning Celebrity journalist, Luxury and Lifestyle Reporter with Ben tv London and Publisher, Megastar Magazine. He has carved a niche for himself with over 15 years of experience in celebrity Journalism and Media PR.

    Related Posts

    News July 26, 2025

    Nollywood star Odunlade Adekola loses father

    Health July 26, 2025

    LASEPA, UNIDO, Japan govt unite to train food vendors, waste workers in Ikorodu to fight epidemic

    News July 26, 2025

    Abioye unveils digital platform – Alarino, for Yoruba preservation 

    News July 26, 2025

    Aliko Dangote retires, steps down as Director/Chairman, ushers in Ikazoboh 

    News July 26, 2025

    Ekemini Nelson shines as 24th Miss Earth Nigeria

    News July 26, 2025

    Class of ’99 governors pay visit to Tinubu at Aso Villa on Friday

    Leave A Reply Cancel Reply

    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

    Don't Miss
    Sports July 27, 2025

    WAFCON best player, goalkeeper awards go to Ajibade, Nnadozie

    WAFCON best player, goalkeeper awards go to Ajibade, Nnadozie L-R: Rasheedat Ajibade, Ghizlane Chebbak and…

    Incredible performance at Rabat as Falcons recover, win 10th WAFCON Title

    July 27, 2025

    Verve Goodlife Promo returns, promises exciting cashbacks

    July 26, 2025

    Nollywood star Odunlade Adekola loses father

    July 26, 2025

    Subscribe to Updates

    Get the latest news as they happen

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    About Us
    About Us

    We are Multimedia company that specializes in Events Coverage and Planning, Media Publicity, Publishing, Awards and Outsourcing in giving styles to your event and creating brand visibility for your products and services.

    Email Us: officialmegastarmagazine@gmail.com
    Contact: +234 705 311 1111

    Our Picks

    WAFCON best player, goalkeeper awards go to Ajibade, Nnadozie

    July 27, 2025

    Incredible performance at Rabat as Falcons recover, win 10th WAFCON Title

    July 27, 2025

    Verve Goodlife Promo returns, promises exciting cashbacks

    July 26, 2025
    New Comments
    • Anozie okolo on Supreme Court Affirms President Tinubu’s Victory As Atiku, Peter Obi Lose
    • Mc richman on Nigeria and South African Music histories
    • Moses Ibrahim on Olu of Warri: Pictorial @ The Ogiame Atuwatse III Economic Summit.
    • Sen Rich Kay on MALARIA ERADICATION: Prince Ned Nwoko & NMEP Meet for joint action.
    Megastar Magazine
    YouTube Facebook WhatsApp Instagram
    • Privacy Policy
    • Terms of Use
    • Contact Us
    © 2025 Megastar Magazine. Designed by MANNDI

    Type above and press Enter to search. Press Esc to cancel.