CAC Launches AI-Powered Portal to Accelerate Business Registration for Nigerian MSMEs
The portal, unveiled by Registrar-General Hussaini Ishaq Magaji, is part of CAC's broader effort to formalize Nigeria's vast informal sector. "The formalization of businesses is crucial for economic growth, and we are committed to making the registration process easier, faster, and more accessible," Magaji stated.
The AI-powered portal boasts several key features, including reduced registration time, increased transparency, and improved accessibility. Businesses can now register directly via Fintech apps, such as Opay, Palmpay, and Moniepoint, thanks to partnerships between CAC and these Fintech companies.
"The launch of this portal marks a significant milestone in our efforts to promote ease of doing business in Nigeria," said Magaji. "We are confident that this platform will not only simplify the registration process but also enhance compliance and inspection duties."
The CAC has also collaborated with the National Agency for Science and Engineering Infrastructure (NASENI) to leverage AI solutions and high-powered computing products. This partnership aims to align Nigeria with global best practices in business registration and regulation.
The launch of the AI-powered portal has been hailed as a major breakthrough for Nigerian MSMEs, which account for over 90% of businesses in the country. "This is a game-changer for small businesses like mine," said Mrs. Aisha Mohammed, owner of a small textile business in Abuja. "The faster registration process will enable us to focus on growing our businesses and creating jobs."
The CAC has assured that the portal is secure, reliable, and user-friendly, with adequate support systems in place to assist businesses with the registration process.
With the launch of this AI-powered portal, Nigeria has taken a significant step towards promoting ease of doing business and formalizing its informal sector. As the country continues to navigate the challenges of economic growth and development, innovations like this portal will play a critical role in driving progress and prosperity.
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