Abuja: The Federal Government has commended the Corporate Affairs Commission (CAC) for continuing to drive private sector growth and boost investors’ confidence through sustained reforms and digital transformation. The Permanent Secretary, Ministry of Industry, Trade and Investment, Amb. Nura Rimi, expressed these sentiments at the 35th anniversary celebration of CAC in Abuja on Monday.
According to News Agency of Nigeria, Rimi highlighted that the commission has evolved from manual business registration to a technology-driven institution that supports transparency, accountability, and ease of doing business. He noted that CAC has played a critical role in Nigeria’s economic development by simplifying business registration processes, encouraging the formalisation of enterprises, and fostering trust in the corporate system.
“The work of the CAC has gone beyond registration to fostering trust in the economy, encouraging domestic and foreign investment, and supporting the growth of nano, micro, small, and medium enterprises,” Rimi said. He added that the commission’s reforms have contributed to Nigeria’s improved global standing, including its exit from the Financial Action Task Force (FATF) Grey List. The permanent secretary emphasized that the commission has enhanced the country’s reputation as a hub for trade and investment in Africa.
Rimi commended the commission’s digital reforms, such as online registration, automation of filings, and inter-agency integration. He mentioned that businesses can now be registered within minutes, a feat unimaginable at the time of the CAC’s establishment in the 1990s. Looking ahead, he urged the commission to leverage emerging technologies such as artificial intelligence and blockchain to further enhance trust, inclusivity, and global competitiveness.
Additionally, the Managing Director of the Oil and Gas Free Zones Authority (OGFZA), Mr Bamanga Jada, congratulated the CAC on 35 years of “dedicated, impactful, and exemplary service” to Nigeria. Jada noted that the commission has played a pivotal role in strengthening corporate governance, improving the ease of doing business, and fostering investor confidence through efficient regulatory and administrative reforms. He stated that OGFZA has maintained a longstanding institutional partnership with CAC, adding that the commission’s sustained commitment to transparency and operational excellence has continued to support investment growth in the zones.
The Director-General of the Industrial Training Fund (ITF), Dr Afiz Oluwatoyin, remarked that increased company registration has positively impacted revenue generation and performance across government institutions. He disclosed that ITF’s scorecard has improved significantly in recent years, attributing some of the gains to reforms at CAC that have made it easier for businesses to register and operate formally.
Similarly, the Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Charles Odii, commended CAC for working “smarter” through digital innovation to support small businesses. Odii praised recent initiatives aimed at reducing the cost of registration for small enterprises and formalising hundreds of thousands of businesses, describing CAC as a critical partner in Nigeria’s MSME development agenda. He assured the commission of SMEDAN’s continued support, stressing that faster and smarter registration processes would enable Nigerian businesses to compete more effectively at the continental and global levels.