CAC uses AI, processes 11,000 transactions in a day

The Corporate Affairs Commission (CAC) has disclosed that its newly unveiled Artificial Intelligence (AI) business registration portal now processes over 11,000 transactions daily.

While it recognized there are still challenges, CAC, in a statement, yesterday on its X handle, noted that it is addressing technical issues, flagged by some lawyers, which are related to identity verification and payment processing that continued to affect the user experience.

The Commission outlined the efficiencies delivered by the portal since its rollout on June 30, including the issuance of registration certificates within 30 minutes, once a director’s National Identification Number (NIN) is verified.

According to the Commission, the portal also allows users to test multiple business names without payment upfront, reducing barriers to entry for entrepreneurs.

CAC stated: “You can’t compare AI with humans for service delivery. We now handle over 11,000 cases daily.

“Last Friday alone, we received 8,000 name reservation requests, all processed the same day. That would have taken two weeks manually. Automation through intelligence is necessary. It’s a change we must accept.”

While there are still hitches, CAC claimed that the system’s slowdowns primarily stemmed from dependencies on external platforms.

According to it, the National Identity Management Commission (NIMC) portal has been offline for several weeks, preventing automatic NIN confirmation.

It stated that the REMITA payment gateway has witnessed intermittent blackouts, disrupting fee collection and that Stamp duty remittances pause whenever the ProTax platform goes offline.

To mitigate these setbacks, CAC noted that it has requested Treasury approval for an alternative payment channel to ensure continuity during REMITA disruptions.

In terms of security, the Commission added that this has been tightened with the introduction of one-time passwords (OTPs) for every transaction, safeguarding filings from unauthorised access.

According to the CAC, a dedicated help desk portal now handles 3,000 complaint emails daily, helping refine the platform and address concerns in real-time. Software patches are also being rolled out to restore disrupted services, with full functionality expected soon.

“The Commission is not unmindful of the fact that transition comes with challenges. With valuable feedback from stakeholders, we are sure of delivering a better-quality service,” it said.