The Corporate Affairs Commission has defended its newly introduced Artificial Intelligence-based registration platform, describing it as a major step forward in service delivery despite growing concerns over glitches and user complaints.
The portal, known as the Intelligent Companies Registration Portal (ICRP), is said to be handling more than 11,000 company registration and compliance matters daily.
This was disclosed in a statement issued by the Commission’s management on Sunday in reaction to criticisms from legal practitioners and business owners over alleged delays and technical issues.
According to the CAC, the platform recently processed 8,000 name reservation requests in just one day, a task that previously took a minimum of two weeks under the former manual system.
“We are not unmindful of complaints, but we are fully committed to delivering better quality services. The portal will soon perform optimally as a true champion of service excellence,” the Commission stated.
While acknowledging the presence of “teething challenges,” the CAC urged the public to be patient and assured stakeholders that all feedback was being considered and addressed.
The Commission clarified that some delays were linked to data verification issues from the National Identity Management Commission. As a result, alternative technologies have now been adopted to verify user identities and facilitate real-time transactions.
To strengthen security and comply with the Data Protection Act 2023, the CAC explained that the ICRP now requires One-Time Passcode (OTP) authentication for every transaction. This, it noted, helps prevent unauthorized access and curbs the operation of multiple suspicious accounts.
“The newly deployed ICRP is no doubt a cost-effective system for our valued customers, as they no longer lose money on checking availability. The innovation has ensured that customers only proceed to payment after securing the name,” the Commission added.
It also revealed that more than 3,000 emails are now received and processed daily, which justified the automation of its services.
To ease payments, the CAC said it is working on adding more payment gateways, while also integrating the platform with trusted service providers such as Remita for stamp duty and other payments.
Reaffirming its commitment to reform, the Commission described the portal as a customer-centric innovation aligned with global standards, saying, “Our goal remains simple: to emplace processes and frameworks that will stand the test of time in corporate service delivery.”
