The Federal Government has commended Nigeria’s Corporate Affairs Commission (CAC) for strengthening private sector growth and boosting investor confidence through sustained reforms and digital transformation.
Speaking at the CAC’s 35th anniversary celebration in Abuja on Monday, the Permanent Secretary of the Ministry of Industry, Trade and Investment, Ambassador Nura Rimi, said the commission’s evolution from manual registration processes to a technology-driven system has enhanced transparency, accountability and ease of doing business.
Rimi noted that CAC’s reforms have simplified business registration, encouraged enterprise formalisation and fostered trust in Nigeria’s corporate environment, contributing to improved global perception and the country’s exit from the Financial Action Task Force (FATF) Grey List.
He said businesses can now be registered within minutes, a significant shift from practices in the 1990s. He urged the commission to further leverage emerging technologies such as artificial intelligence and blockchain to deepen inclusivity, trust and global competitiveness.
Other stakeholders at the event echoed the commendation. The Managing Director of the Oil and Gas Free Zones Authority, Bamanga Jada, described CAC’s role as pivotal in strengthening corporate governance and investor confidence, while highlighting strong inter-agency collaboration.
The Director-General of the Industrial Training Fund, Dr Afiz Oluwatoyin, said increased company registration had positively impacted revenue and performance across government institutions. Similarly, SMEDAN Director-General Charles Odii praised CAC’s digital innovations and cost-reduction initiatives, describing the commission as central to Nigeria’s MSME development agenda.
The anniversary event drew broad participation from government agencies, the private sector and development partners, with calls for sustained innovation to support Nigeria’s economic reforms in the years ahead.