Business
CAC Phases Out Manual Registration In More States
In its bid to phase out manual registration of businesses in Nigeria, the Corporate Affairs Commission (CAC) is billed to carry out this bid in 10 more states across the nation.
The States are Kwara, Ogun, Oyo, A’Ibom, Delta Kogi, Bauchi, Sokoto, Plateau and Imo.
Revealing this recently in her welcome address at a one-day sensitisation meeting with customers in Port Harcourt, the Acting Registrar-General of the Commission, Lady Azuka Azinge, said the development is geared toward serving the business public better.
“The sensitisation visit is in furtherance of efforts towards deepening communication with our customers and other stakeholders”, she said.
Azinge explained further that “given the mandate of the commission, and as an agency of the government involved in the start-up of business, the commission has keyed into the Federal Government’s agenda to create an enabling environment for ease of doing business in line with global best practices”.
Towards this end, she said, those wishing to register their businesses would no longer be required to wait for weeks or months to get them registered. They can do it online within the confines of their home.
“With the Company Registration Portal (CRP), the Commission’s registration services are now available 24/7. Any member of the public can start and complete business registration from the comfort of their homes and offices”, she said.
To enhance this, she said the Commission has extended its working hours to 7:00pm, Monday to Friday in the first eight offices where the manual registration has already been phased out.
The offices are Abuja (Maitama and Wuse), Lagos (Alausa and Lagos Island), Enugu, Port Harcourt, Kaduna and Kano.
“In all of these states, registration services can only be done online as manual registration has been phased out since 15th May, 2017”, she said.
Highlight of the sensitisation was on-the-spot registration of three businesses and award of Certificate of Registration by the Acting Registrar-General to representatives of the businesses: Stewer Integrated Services, Ehizoch Services, and Natural Concepts Services.
The CAC was established by the Companies and Allied Matters Act (CAMA), 1990, as the sole Government agency responsible for registration and regulation of Companies, Business Names and Incorporated Trustees in Nigeria.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.