The Corporate Affairs Commission (CAC) has announced plans to sanction any officers found contravening its application procedures, following reports alleging irregularities in the processing of applications.
In a statement on Thursday, the CAC expressed concern over complaints suggesting that certain applications are being expedited by officers at the expense of others.
The Commission assured the public that it takes such allegations seriously and has launched investigations to address the issue.
“The Commission does not take these allegations lightly and is, therefore, investigating them to take decisive action against anyone found violating its established guidelines and standard operating procedures,” the statement read.
The CAC urged customers and members of the public to provide any evidence against erring officers, regardless of rank, to facilitate appropriate disciplinary measures.
It reiterated its commitment to fairness and transparency in handling applications, emphasising that services are rendered on a first-come, first-served basis, with some paid services offered on the same day via the Companies Registration Portal (CRP).
In a bid to enhance transparency and efficiency, the Commission announced plans to deploy artificial intelligence (AI) to manage its registration processes.
According to the CAC, this will eliminate human interference and align its operations with global best practices.
The Commission’s announcement comes amid its ongoing efforts to regularise fintech operations in Nigeria.
It reported handling over 15,000 applications daily, including on weekends, as part of the fintech regularisation programme mandated by the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s 2013 Agent Banking guidelines.
In response to claims in the media about inefficiencies in its services, particularly regarding name searches, the CAC dismissed these reports as false and aimed at discrediting its reputation.
The Registrar-General of the CAC, Hussaini Ishaq Magaji, previously highlighted the Commission’s plans to use artificial intelligence and high-powered computing (HPC) technology to enable company registrations within minutes.
During a meeting with the Executive Vice Chairman of NASENI, Khalil Suleiman Halilu, in Abuja, Magaji stressed the need for technology-driven solutions to sustain the Commission’s growing operational capacity.
The CAC is committed to continuous improvement and innovation to provide efficient and transparent services to its customers.
