Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has reaffirmed the Federal Government’s commitment to ease of doing business, transparency and institutional reform, describing effective inter-agency collaboration as critical to the success of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The Minister spoke when he received the Registrar-General and Chief Executive Officer of the Corporate Affairs Commission (CAC), Hussaini Magaji, who led a delegation of the Commission on a courtesy visit ahead of its 35th anniversary celebration (CAC@35).
Idris commended the CAC for far-reaching institutional reforms that have repositioned the Commission as a key driver of Nigeria’s business environment, economic credibility, corporate governance and investor confidence.
“I’m really impressed with some of these scorecards you have rolled out. Thank you for the services you are rendering to our great country,” the Minister said.
He noted that the reforms align with the President’s agenda and are supported by the Presidential Enabling Business Environment Council (PEBEC), which facilitates ease of doing business in Nigeria.
“The President has deepened these reforms, and I’m glad that the Corporate Affairs Commission has keyed into them,” Idris added.
The Minister also praised the CAC’s contribution to Nigeria’s recent delisting from the Financial Action Task Force (FATF) grey list, describing it as a major milestone that reflects growing global confidence in the country’s regulatory and transparency frameworks.
“Nigeria’s delisting from the FATF grey list is very important. It means the country can now engage more freely in global business activities previously restricted due to concerns around money laundering, terrorism financing and beneficial ownership transparency,” he said, noting that the CAC played a significant role in achieving the milestone.
According to Idris, recent economic gains under the Tinubu administration, including rising foreign reserves, easing inflation, improved investor confidence and economic stabilisation, cannot be fully discussed without recognising the role of reform-driven institutions such as the CAC.
“Our GDP is rising, the naira is stabilising, and investor confidence is returning. The story of this progress cannot be complete without mentioning the Corporate Affairs Commission,” he said.
He further commended the Commission’s deployment of technology, noting that business registration, which once required physical visits to Abuja, can now be completed remotely.
“Registering a company used to be a herculean task. Today, you can do it from the comfort of your home. The use of artificial intelligence for name selection and registration has made the process faster and cheaper,” the Minister said.
Idris urged the CAC to intensify public engagement and advocacy to ensure Nigerians are well informed about the Commission’s innovations and services, assuring it of the Ministry’s support in amplifying its reforms through strategic communication.
Earlier, the Registrar-General of the CAC, Hussaini Magaji, said the visit was to present a scorecard of reforms achieved under the current administration.
He explained that the Commission’s mandate is to make it easier for citizens and investors to do business in Nigeria, stressing that its services are now accessible anywhere with internet connectivity.
“Anywhere you have internet penetration, you have CAC there because our services can be accessed without physical interaction with staff,” Magaji said.
He disclosed that since assuming office in October 2023, the Commission has transitioned from a largely manual system to a fully digital, technology-driven institution in line with President Tinubu’s Renewed Hope Agenda.
“As it is now, business registration can be completed in less than 10 minutes, with certificates generated instantly and verifiable online,” he said.
Magaji added that the CAC has expanded its digital offerings from 33 services to over 100 online services, deployed artificial intelligence for business name reservation and registration, and introduced Application Programming Interface (API) services for banks, embassies, security agencies and other institutions.
He also highlighted the operationalisation of the Beneficial Ownership Register, which he said has strengthened transparency, boosted investor confidence and positioned Nigeria as a global reference point for corporate disclosure.
According to him, the Commission’s reforms have brought over four million informal businesses into the tax net, improved security through the registration of POS operators, and supported small and medium-scale enterprises through free business registrations in collaboration with relevant agencies.
Magaji further announced an upcoming partnership with Google to strengthen the Commission’s digital infrastructure, as well as the launch of an AI-powered public support platform to guide users on corporate and regulatory matters.