CAC
Picnews
The Corporate Affairs Commission (CAC) is celebrating 35 years of driving Nigeria’s economic growth and credibility. Information Minister Mohammed Idris praised CAC’s institutional excellence, citing its pivotal role in improving the business environment and economic credibility.
CAC’s transformation, driven by technology and digitization, aligns with the Federal Government’s reform agenda. The commission has brought over 4 million informal businesses into the tax net, improved security by registering POS operators, and supported SMEs through free business registrations.
The CAC has strengthened transparency, boosted investor confidence, and positioned Nigeria as a global reference point for corporate disclosure. Its operationalization of the Beneficial Ownership Register has been a significant milestone.
The commission has transitioned from a manual, location-bound registry to a fully digital, technology-driven institution. Services are now accessible in real-time from anywhere in the country.
CAC’s efforts contributed to Nigeria’s delisting from the Financial Action Task Force (FATF) grey list, reflecting growing global confidence in Nigeria’s regulatory and transparency frameworks.
The commission has expanded digital offerings from 33 to over 100 online services, deployed AI for business name reservation and registration, and introduced API services to support banks, embassies, and security agencies.
CAC’s reforms have improved ease of doing business, strengthened corporate governance, and enhanced investor confidence, vital for national development.
The Federal Government reaffirms its commitment to transparency, institutional reform, and ease of doing business, emphasizing inter-agency collaboration for President Bola Ahmed Tinubu’s Renewed Hope Agenda.
CAC’s anniversary celebration, CAC@35, highlights its journey, achievements, and evolving role in Nigeria’s economic development.
The commission’s progress underscores its critical role in shaping Nigeria’s business environment and promoting economic growth.
