Michael Nwabufo, the Corporate Affairs Commission’s ambassador, says Nigeria has moved beyond merely catching up with global standards and is now competing with leading economies in the speed of business registration.

Mr Nwabufo said the commission’s digital transformation was a defining milestone in Nigeria’s economic history.

“CAC has achieved what many once thought impossible: it has become the first African country, and arguably one of the fastest globally, to deploy an advanced AI-powered registration portal.

“This portal enables entrepreneurs to register their businesses and receive their certificates in record time, often within 10 minutes (subject to seamless NIN verification).

“We have recorded a remarkable surge in business registrations, generating billions of naira in revenue inflows, a significant contribution to the nation’s treasury, supporting economic growth and national development for the benefit of all Nigerians,” Mr Nwabufo told journalists recently.

Reaffirming his commitment to national development through institutional reform, the content and talent manager called for stronger regulation for crypto vendors to protect players in the country.

Mr Nwabufo said business remained the heartbeat of the nation, connecting citizens, driving productivity and sustaining economic growth. He noted that the platform integrates biometric and digital identity checks to enhance accuracy and eliminate identity fraud, adding that intelligent automation now drives name reservation, documentation processing and compliance validation.

Mr Nwabufo listed key features of the portal, including instant incorporation, fraud-reduction protocols, online verification systems, and API integrations for service providers. He said the one-stop digital process eliminated physical visits, reduced bureaucratic bottlenecks and improved regulatory transparency.

Mr Nwabufo urged cryptocurrency and digital asset vendors to comply strictly with the Securities and Exchange Commission’s regulatory framework.

“Regulatory alignment is not optional. It is essential for investor protection, market integrity and national economic stability,” he said.

He also cautioned content creators and influencers against promoting unregistered financial and digital asset platforms.

He advised influencers to request verifiable proof of SEC licensing before entering ambassadorial or advertising agreements.

“Crypto brands without valid SEC registration should not expect to leverage Nigeria’s content creators. Responsible advertising must be built on verified legitimacy and compliance,” he said.

(NAN)