The Corporate Affairs Commission (CAC) has reported a significant increase in efficiency with its new Artificial Intelligence-driven registration platform, the Intelligent Companies Registration Portal (ICRP). The portal now handles over 11,000 company registration and compliance cases daily, including 8,000 name reservation requests processed in a single day.
This is a notable improvement from the old manual process, which took at least two weeks to complete similar tasks. The CAC introduced the ICRP to enhance service delivery and ease of doing business in Nigeria.
In response to user complaints about technical issues and delays, the CAC appealed for patience, citing teething challenges associated with new technology. The commission emphasized that the new system is designed to prevent unauthorized access and ensure secure transactions.
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The portal requires a One-Time Passcode (OTP) for each transaction, ensuring that only authorized users can access the system. This innovation has eliminated the need for customers to lose money on checking name availability, as they only proceed to payment after securing the name.
The CAC assured users that the ICRP is working efficiently, processing a high volume of applications daily. The commission dismissed claims of poor service delivery, emphasizing its commitment to improving the business environment in Nigeria.
