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CAC processes 10,000 daily registrations after AI rollout

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The Corporate Affairs Commission has disclosed that it now processes close to 10,000 business registration requests daily, a dramatic leap from the “few hundreds” recorded in its early years, following the full deployment of artificial intelligence across its service platforms.

The commission, however, admitted that the transition to an AI-driven portal caused disruptions and temporary setbacks in productivity and service delivery in 2025.

The Registrar-General of the commission, Hussaini Magaji, made this known on Monday in Abuja at the opening ceremony of CAC’s 35th anniversary celebration, where he described the milestone as a defining moment in Nigeria’s economic formalisation drive.

The event, themed “Upholding Public Trust through Excellent Service Delivery,” was held to celebrate the commission’s resilience, teamwork, and institutional evolution since its establishment in 1991.

The commission was established by the Companies and Allied Matters Act of 1990 to replace the inefficient Company Registry.

As an autonomous body, it handles the incorporation and regulation of companies, business names, and incorporated trustees. It was modernised by CAMA 2020.

Speaking in his address, Magaji said CAC’s operations have since evolved into a fully digital, end-to-end registry, accessible across Nigeria and globally on a 24-hour, seven-day basis.

“When the Corporate Affairs Commission was established in 1991, our story began humbly, but with a bold mandate. At the time, CAC operated from a single office in Area 11, Garki, Abuja, serving the entire nation.”

He recalled that business owners and associations were then forced to travel from across the country to Abuja to register entities, as processes were entirely manual and records were paper-based.

“Service delivery was limited by geography and time. Yet, that single office laid the foundation for what has become one of Africa’s most dynamic and reform-driven corporate registries. Fast-forward to 2026, and our services are no longer confined to one location,” he said. “This is our evolution: from paper to portal, from queues to clicks, from stress to seamless, from one office to the world.”

He attributed the surge in registration volumes to tax reforms, government policies promoting the formalisation of informal businesses, and the rapid growth of digital and social media-driven enterprises.

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“To put this into perspective, CAC now receives close to 10,000 business registration requests daily, compared to only hundreds in the past,” Magaji said. “In addition, our complaint management system, through emails and call centres, now handles an average of 5,000 inquiries every single day.”

He argued that such volumes would be impossible to manage manually. “Imagine the number of staff required to manage this volume. Only AI can effectively complement human capacity with the required speed, accuracy, and precision,” he added.

He, however, acknowledged that the year was particularly challenging due to the transition, noting that transformational change often comes with initial difficulties.

“I must acknowledge, however, that 2025 was particularly challenging. The transition to an AI-driven portal came with disruptions and temporary setbacks in productivity and service delivery in some areas. Transformational change is never easy. Nevertheless, I sincerely appreciate our stakeholders and customers for their patience, understanding, and confidence that the desired outcomes will emerge.

“As I have consistently assured you, I will not relent until the CAC delivers services that rank among the best in the world. Indeed, nothing truly good comes easy. Today is not merely a celebration of time; it is a celebration of purpose, resilience, transformation, and national impact,” Magaji said.

Magaji described the commission’s AI transition as inevitable, stressing that CAC had already become a global reference point in name reservation and business name registration, with turnaround times of as little as 10 minutes.

“Let me state clearly: the deployment of AI at CAC is not optional; it is necessary. Nevertheless, I sincerely appreciate our stakeholders and customers for their patience, understanding, and confidence that the desired outcomes would emerge.”

To deepen its digital transformation, Magaji announced the signing of a Letter of Collaboration between CAC and Google, describing it as a strategic partnership to strengthen service delivery. “Google brings global expertise and technological support that will further strengthen our systems, enhance portal performance, and deepen the ease of doing business in Nigeria,” he said.

He also unveiled a redesigned CAC website (www.cac.gov.ng) featuring new AI-powered tools, including an AI Lawyer, which provides instant responses on CAC laws and procedures, and an AI Name Generator, which allows users to generate and reserve scalable business names with ease.

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As part of its anniversary initiatives, the commission approved free business name registration for 3,500 small businesses across the 36 states and the Federal Capital Territory.

Other initiatives include scholarships for the six best corporate law students from each campus of the Nigerian Law School in 2026, donation of 120 mattresses to an IDP camp, support for orphanages, and a 25 per cent commemorative staff bonus. Special car and housing loan schemes were also announced for staff, alongside board-recommended promotions for pioneers and retiring officers.

“As we celebrate the past, we are even more inspired by the future, one driven by technology, efficiency, transparency, and global standards.

“In the spirit of this celebration, the management of CAC has approved the following initiatives: free business name registration for 3,500 small businesses, to be distributed across the 36 states of the federation and the Federal Capital Territory; scholarships for six best corporate law students from each of the six campuses of the Nigerian Law School for the year 2026, in support of corporate law studies; donation of 120 mattresses to an IDP camp; and support for orphanages as part of our social responsibility.

“Equally, in recognition of our resilient staff who have driven these reforms, and in line with our Conditions of Service, particularly Paragraph 6.02, I am pleased to announce a commemorative staff bonus of 25 per cent of one month’s gross salary, applicable for this month only. Special car loan and special housing loan.

“Finally, to our pioneers and retiring staff who could not make it in the current promotion exercise, the Management has recommended their promotion to our Board in line with our Conditions of Service,” he concluded.

Delivering a goodwill message, the Chairman of the House of Representatives Committee on Commerce, Ahmed Munir, said the commission’s digital transformation had simplified the process of business registration and empowered millions of entrepreneurs to transition from the informal to the formal economy.

According to him, CAC’s reforms have strengthened Nigeria’s structured economy by easing the journey from business ideas to fully registered corporations. He urged stakeholders to work together to ensure that no Nigerian entrepreneur is hindered by regulatory barriers but supported by an efficient and ambitious system.

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“Embrace the digital frontier by simplifying the path from idea to corporation. You have empowered millions of entrepreneurs to move from the informal sector into the structured economy.

“I see a future where ECOWAS shall be freely integrated with a West Africa Corporate Affairs Commission headquartered in Nigeria, backed by an ECOWAS stock market to expand capital within ECOWAS communities, becoming a major player in the technical community and the global market square. Our committee remains committed to providing legislative support, as necessary, to further enhance your digital infrastructure and transparency.

“We view the CAC not just with recognition, but with responsibility. As we look to the future, let us remember that every certificate issued is more than just paper. Let us work with vigour to ensure that no Nigerian entrepreneur is held back by regulation, but is instead propelled by a system that is as fair and ambitious as they are. Together, we are not just registering companies; we are igniting the engine of the giant of Africa. Congratulations to the men and women of staff; onward to greater heights,” he said.

The Director-General of the National Information Technology Development Agency, Kashifu Abdullahi, pledged technical backing for CAC’s AI reforms. “We are in the era of artificial intelligence, and the only way to transform institutions today is to embrace and integrate AI into operations,” Abdullahi said, assuring the commission of support in deploying ethical and responsible AI solutions.

Established in 1991, the Corporate Affairs Commission is Nigeria’s statutory body for the registration and regulation of companies, business names, and incorporated trustees. Its reforms are central to the Federal Government’s drive to improve Nigeria’s ease-of-doing-business ranking, expand the tax base, and formalise micro, small, and medium-scale enterprises.

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Oshiomhole seeks ban on MTN, DSTV, read why

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The senator representing Edo North, Adams Oshiomhole, on Tuesday called for the revocation of licences of South African companies operating in Nigeria, including MTN and MultiChoice, owners of DSTV, following renewed xenophobic attacks against Nigerians in South Africa.

The call came as the National Assembly condemned the latest wave of attacks, urging the Federal Government to take immediate diplomatic and protective measures to safeguard Nigerian citizens abroad.

Speaking during plenary, Oshiomhole said Nigeria must respond firmly, invoking the principle of reciprocity in international relations.

He said, “I don’t want this Senate to be shedding tears, to sympathise with those who have died. We didn’t come here to share tears.

“If you hit me, I’ll hit you. I think it is appropriate in diplomacy. It’s an economic struggle.”

The former Edo State governor proposed that Nigeria should nationalise MTN and withdraw its operating licence, arguing that the company repatriates significant revenue while Nigerians face hostility in South Africa.

“This Senate should adopt a position that MTN, a South African company that is cutting away millions of dollars from Nigeria every day, should have Nigeria nationalise it and withdraw its licence,” he said.

According to him, such action would not only serve as a deterrent but also create opportunities for indigenous firms, amid what he described as economic and social targeting of Nigerians abroad.

He extended the call to MultiChoice, urging the Federal Government to revoke DSTV’s licence over alleged exploitative practices.

“I call on the Federal Government to revoke DSTV, which is also a South African company that is cutting away millions of dollars,” he said.

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Oshiomhole linked the recurring tensions to domestic political dynamics in South Africa, noting that anti-immigrant rhetoric had become a feature of its politics and was shaping public attitudes toward foreign nationals, including Nigerians.

“When we hit back, the president of South Africa will go on his knees to recognise that Nigerians cannot be intimidated,” he said.

The senator made the remarks while contributing to a motion sponsored by Osita Izunaso, which was read on the floor by Aniekan Bassey under Senate rules on matters of urgent public importance.

Titled “A call for urgent national diplomatic and humanitarian action to defend the dignity, safety and honour of Nigerian citizens,” the motion highlighted growing concerns over the safety of Nigerians in South Africa.

Also speaking, Senator Victor Umeh described the situation as alarming, warning that Nigerians were living in fear.

“It is worrisome. They are hiding for their lives. They can’t move freely. This is a situation where people are paying good with evil,” he said, referencing Nigeria’s historical support for the anti-apartheid struggle.

Umeh called on the African Union to intervene and impose sanctions, warning that Nigeria could no longer tolerate attacks on its citizens.

“The AU, of which South Africa is a member, should rise now and impose necessary sanctions,” he said, adding that “we cannot allow this to continue.”

Oshiomhole, however, doubled down on calls for economic retaliation, arguing that Nigeria must move beyond rhetoric.

“I don’t want this Senate to be shedding tears to sympathise with those who have died. We didn’t come here to shed tears. I am not going to shed tears. If you hit me, I hit you. I think it is appropriate in diplomacy. It is an economic struggle,” Oshiomhole said.

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He further argued that Nigerians should take advantage of opportunities in the local economy, currently dominated by foreign firms.

Senator Abdul Ningi warned South Africans over recent attacks on Nigerians, threatening that the country would take the fight to their territory.

“If a crime has been committed under the South African law, they have the right to bring any such person to justice, but to kill our people as if we are helpless, we will not allow that.

“If these things continue, we have alternatives, we have options, and therefore, these words should be sent across South Africa. We know where South Africans are, not only in Nigeria but all over Africa, and we can take this fight to their territory,” he said.

Speaking, the Senate President, Godswill Akpabio, decried the attack, adding that the National Assembly would send a joint team to meet with the South-African parliament on the matter.

“This is just not acceptable, this is barbaric, this is cruel, this is unheard of, this is strange behaviour, and we’re not seeing action from the government of South Africa. These are aspects that annoy me,” Akpabio said.

The development underscores mounting pressure on the Federal Government to adopt a tougher stance, as recurring xenophobic violence in South Africa continues to strain diplomatic relations and provoke calls for both economic countermeasures and stronger protections for Nigerians abroad.

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Naira gains, trades 1,365/$ at official FX market

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…NFEM rate — N1,365.2474/$

…Naira strengthens by at least N9

…Black market (Buying and selling rates) — N1,390 — N1,400

The Nigerian naira strengthened against the United States (US) dollar, trading at N1,365.2474 at the Central Bank of Nigeria (CBN) official foreign exchange window on Monday, 4th May, 2026.

According to the data shared on the official platform of the Central Bank of Nigeria (CBN), the naira traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,365.2474 per dollar and closed at N1,367.5000 per dollar.

Tribune Online reports that the Nigerian currency traded at an NFEM rate of N1,374.9431 on 30th April 2026, which was the previous trading date. Comparing this with the trading rate on Monday, the naira strengthened by at least N9.

At the parallel market, the naira-to-dollar buying rate decreased by N3, while the selling rate increased by N2, compared with the previous trading rate on 30th April, 2026.

According to Aboki FX, the Naira-to-dollar exchange rate at the black market on Monday, 4th May, 2026, was N1,390 for the buying rate and N1,400 per dollar for the selling rate.

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Experts promote rabbit value chain investment

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Experts in animal production have identified rabbit farming as a viable avenue for economic growth, job creation, and improved nutrition in Nigeria.

The experts made this known during a public lecture held at the Bauchi State College of Agriculture on Friday as part of activities marking Rabbit Appetite Day.

Speaking at the event, a registered animal scientist and lecturer at the Federal Polytechnic Damaturu, Sani Muazu, said there was a need to promote both the consumption and commercial production of rabbits across the country.

He described rabbit production as a largely untapped but promising sector capable of contributing significantly to Nigeria’s economy.

“Rabbit farming in Nigeria is still underdeveloped, with only about three to five per cent of the population engaged in the enterprise, mostly at small-scale family levels where farmers keep an average of two to seven breeding females. Despite this, the sector offers vast opportunities for expansion and commercialisation,” he said.

Muazu noted that rabbits are highly productive animals, with a gestation period of about 30 days and the capacity to produce up to 20 or more offspring annually.

He added that their low feeding and housing requirements make them suitable for students, smallholder farmers, and urban residents seeking alternative sources of income.

According to him, rabbit production extends beyond farming to other economic activities such as breeding, feed supply, veterinary services, processing, and marketing.

He also highlighted the nutritional value of rabbit meat, describing it as rich in protein, low in fat, and suitable for addressing protein deficiency in the country.

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On environmental sustainability, Muazu said rabbits require less land and water and emit fewer greenhouse gases compared to larger livestock, making them suitable for climate-smart agriculture, particularly in semi-arid regions.

However, he identified low public awareness and high mortality rates among young rabbits as major challenges hindering the sector’s growth.

He urged students and youths to take advantage of opportunities in rabbit farming by starting small-scale ventures that could grow into profitable agribusinesses, while calling on government and private sector players to invest in the development of the rabbit value chain.

In his remarks, the Provost of the Bauchi State College of Agriculture, Dr Ahmed Isah, described the event as timely and impactful, noting that it would encourage students to embrace self-employment through agriculture.

“Such initiatives are critical in addressing unemployment. Graduates can become employers of labour through ventures like rabbit farming,” he said.

He also encouraged members of the public to engage in rabbit production, describing it as a profitable and easy-to-start enterprise with the potential to improve livelihoods and boost the nation’s economy.

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