Secret Reporters No place to hide
Secrets Reporters
As the country continues to grapple with deteriorating economic conditions, ministries and agencies have continued to ignore the plight of the masses as they keep budgeting excessively for some of their activities for the year.
The Corporate Affairs Commission (CAC) of Nigeria is the nation’s primary regulator of business entities, established in 1990 under the Companies and Allied Matters Act. Its core functions include the registration of companies, business names, and incorporated trustees, ensuring adherence to legal frameworks, and maintaining a comprehensive public database. In recent years, the CAC has prioritised digitisation, streamlining processes and enhancing transparency through initiatives like the Open Central Register of Beneficial Ownership. This modernisation drive has significantly improved the ease of doing business, fostering a more efficient and accountable environment.
In its 2025 proposed amended budget, the commission earmarked the sum of N34,942,791,835.39 as its total recurrent budget, which is slightly above that of the previous year set at N30,831,401,516.50.
Upon reviewing the commission’s budget, it was revealed that the sum of N1,417,723,265.00 will be spent on software licences and maintenance, with an additional sum of N85,000,000.00 spent on network infrastructure, making a total of N1,502,723,265 to be spent on network, software licences, and maintenance.
A further breakdown of the amount to be spent on software licences and maintenance shows that the commission will spend a whopping sum of N160,000,000 on the company registration portal (CRP), maintenance of CAC online software, and antivirus licence and support. The sum of N225,000,000.00 is earmarked to be used for Artificial Intelligence (AI) – Driven Enterprise Registration Application and another N325,000,000 for CRP mobile app support and maintenance.
Microsoft software licences are to consume the sum of N130,000,000 while the annual maintenance of the SUN Accounting and Inventory module will take the sum of N100,000,000.00 Hosting services for CRP and other related applications are expected to consume N80,873,265 as two (2) Sophos XGS6500 licence renewals for firewall were budgeted at N60,000,000.00
The commission budgeted N46,500,000.00 for customer relationship management maintenance/support (call centre) and N350,000.00 for Zoom software licence renewal.
It is important to note that the Corporate Affairs Commission (CAC) of Nigeria has adopted various software systems to enhance efficiency in business registration and document management. Some of the software adopted for their operations includes but not limited to;
Electronic Document Management System (EDMS) The Electronic Document Management System (EDMS) helps to facilitate the digital management of documents related to business registrations. This system plays a crucial role in receiving, organizing, tracking, and securely storing digital documents. Reducing reliance on physical paper records, thus enhancing efficiency. Integrating with the Company Registration Portal (CRP), allowing users to directly upload required documents during registration or filing processes.
Company Registration Portal (CRP) The CRP serves as the primary online platform for business registration in Nigeria. The CAC continues to update and enhance this system to provide a user-friendly and efficient experience. Key features of the CRP include: A fully digital registration process for new businesses. Continuous software updates to improve service delivery. Plans to introduce new business registration software, enabling more direct and streamlined registrations.
CAC Nigeria Portal App: To further improve accessibility, the CAC has introduced the CAC Nigeria Portal App for Android devices. This mobile application enables users to access key features of the CAC’s online portal, providing greater convenience for business owners and other stakeholders.
