The Corporate Affairs Commission (CAC) is defending its new Artificial Intelligence-powered registration system, the Intelligent Companies Registration Portal (ICRP), despite numerous complaints from users.
The CAC stated that the ICRP is efficiently processing over 11,000 company registrations and compliance tasks daily, and recently handled 8,000 name reservation requests in a single day—a process that used to take at least two weeks.
Acknowledging initial “teething challenges” and user complaints, especially from legal professionals and business owners, regarding system glitches and delays, the commission refuted claims of poor service or that the portal hinders business operations in Nigeria.
The CAC explained that the ICRP incorporates additional security measures, such as mandatory One Time Passcode (OTP) generation for each transaction, to comply with the Data Protection Act 2023 and prevent unauthorized access.
The commission emphasized that the ICRP is a cost-effective solution, with customers paying only after a name is secured. It also noted a significant improvement in service delivery, including processing over 3,000 emails daily. While admitting to some expected transitional issues, the CAC assured users that their feedback is being incorporated and that the portal will soon achieve optimal performance.
Addressing registration delays caused by data verification issues, the CAC clarified that problems with the National Identity Management Commission led them to implement alternative technology for user detail verification and to ensure real-time payments through more gateway options. The ICRP integrates with partners like Remita for stamp duty and service payments.
The CAC reaffirmed its commitment to reform, calling the AI portal a “customer-centric innovation” aimed at aligning with global best practices and improving Nigeria’s ease of doing business rankings.
