CAC deploys AI, treats over 11,000 transactions daily

The Corporate Affairs Commission (CAC) has announced that its newly launched Artificial Intelligence (AI) business registration portal now processes more than 11,000 transactions daily.

In a Sunday statement on its X handle, the Commission said while there were still challenges, it was addressing technical issues, flagged by some lawyers, which were related to identity verification and payment processing that continued to affect the user experience.

The Commission highlighted 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.

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.