The Federal Government has formally launched the Governing Board of the Corporate Affairs Commission (CAC) alongside an Intellectual Property Steering Committee as part of efforts to improve transparency, strengthen investor confidence, and support economic expansion.
The inauguration ceremony took place on Wednesday in Abuja and was presided over by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.
She described the CAC as a foundational institution in Nigeria’s economic structure, noting its central role in business registration, regulatory compliance, and overall economic stability.
Oduwole said the selection of board members reflected deliberate consideration by President Bola Tinubu, given the commission’s importance to national development priorities.
She expressed confidence that the new leadership would help improve Nigeria’s business environment and enhance its reputation in the global investment space.
According to her, the CAC is responsible for company registration, record management, and ensuring adherence to regulatory requirements across the country.
The minister urged the board to pursue reforms that would deepen transparency, attract investment, and contribute to infrastructure development and job creation.
She also encouraged a focus on digital innovation, improved operational efficiency, and simplified processes for micro, small, and medium-scale enterprises.
Oduwole stressed the importance of integrity, collaboration with stakeholders, and measurable outcomes throughout the board’s tenure.
She disclosed that many CAC operations have already been automated, adding that further improvements, stronger oversight, and continued reforms would be sustained.
She commended the newly appointed board members, ministry officials, and stakeholders for their contributions to strengthening the business climate and institutional frameworks.
In his response, the Chairman of the Governing Board, Senator Ibrahim Ida, said the committee would focus on addressing challenges related to technology, efficiency timelines, and public trust while reinforcing existing systems.
He explained that the board’s role would be strategic rather than operational, providing direction while management handles day-to-day execution.
Ida also called for closer cooperation with the ministry to support policy-driven reforms aimed at improving investment inflows.
He thanked the President and the minister for the confidence placed in the team, pledging commitment to the Renewed Hope Agenda.
He assured that the board would work to make business registration faster, more affordable, and more transparent for both Nigerians and international investors.
The Permanent Secretary of the ministry, Dr. Chris Isokpunwu, also urged stronger collaboration and emphasised the need to modernise registration systems to support trade and industrial growth.
He reaffirmed the ministry’s commitment to providing policy guidance, highlighting digital transformation, regulatory compliance, and strong governance as key drivers of effective service delivery.
The event ended with assurances of improved coordination aimed at strengthening Nigeria’s business regulatory framework.