Two years into his tenure, Hussaini Ishaq Magaji, SAN, the Registrar-General and Chief Executive Officer of the Corporate Affairs Commission (CAC) in Nigeria, reflects on the state of the institution he inherited, the reforms he has implemented so far, and the vision that drives his leadership.
Appointed in October 2023, Magaji boasts of focusing on overhauling outdated systems, integrating AI into service delivery, revitalising staff welfare, formalising informal businesses, and boosting revenue.
In this candid exclusive interview conducted by BusinessDay’s General Manager, Bashir Ibrahim Hassan, Magaji shares insights into the challenges faced, strategies employed, and the legacy he hopes to leave behind for Nigeria’s business environment and public sector efficiency. Excerpt…
What did you inherit when you assumed duties as the Registrar General of the Corporate Affairs Commission?
I vividly remember that two years ago, on the 16th of October, 2023, I assumed office as the 5th Registrar-General and Chief Executive Officer of the Corporate Affairs Commission. Upon resuming duty, I made a bold commitment to strengthening the institution of the CAC. I did this by unveiling a four-point agenda that aligns directly with the priorities of His Excellency, the President. This agenda was designed to drive institutional reforms, enhance service delivery, promote compliance, and contribute meaningfully to the ease of doing business in Nigeria.
From day one, my focus has been on positioning the Commission as a catalyst for business growth and a model of transparency and efficiency within the public sector.
What did you discover about the state of the Corporate Affairs Commission (CAC)? What was the CAC that you inherited from your predecessor?
I met a system comprising the workforce of the Commission and what we call the Company Registration Portal. At that time, the CAC had already migrated into a fully online-driven organisation. In fact, this digital migration occurred in 2021 under the previous Registrar-General. However, what I met was an organisation divided into two main parts: the workforce and the digital platform. Unfortunately, both were in a state I would describe as dilapidated.
In terms of the workforce, there were several outstanding staff claims. Many employees who were due for promotion had been waiting for more than three consecutive years. Others had unresolved exit benefits. There were cases of stagnation where some staff members had been on the same salary scale for up to 15 years. As a result, staff morale was extremely low, and this was a major challenge I inherited.
Secondly, concerning the portal, although the Commission had claimed a full digital migration, the reality was different. The CAC has more than 100 post-incorporation services that it is mandated to render, but almost half of these were still not captured digitally when I assumed office. These services were being conducted manually. Thus, the goal of full digitalisation had not yet been achieved. Furthermore, even the services that were available online were prone to frequent complaints and system glitches. Fixing one issue often led to another.
Above all, I did not receive a proper handover from my predecessor. There was no transition briefing to help me understand the problems I was going to encounter. Nevertheless, I came in with a strong zeal to drive government revenue and improve service delivery. One of the initiatives I launched was a campaign to drive business registration and formalise informal enterprises, which resulted in thousands of new registrations.
Additionally, I identified a major gap in the system—particularly in the fintech sector. POS operators, who form a large part of economic activity, were not captured in the formal business environment. Financial transactions were happening at scale, yet the government had no record of these businesses. After reviewing our laws, including relevant Central Bank regulations, we discovered that operating such businesses without registration was illegal. Rather than shutting them down, which would have harmed many young people relying on these activities for income, we created an opportunity for them to regularise their operations. Given that they number in the millions, this drive significantly increased formal business registrations at the Commission.
After assessing all these problems, what vision did you have for the organisation, and how did you plan to achieve that vision by doing things differently from what was done before?
Actually, the Commission is meant to provide services, and these services must be provided with ease. This is the foundation for the ease of doing business. While our operations had been digital, they were not fully intelligent, and people still found it difficult to access some services, which was against the vision of the Commission.
The vision of the Commission is to provide prompt and efficient services. This inspired me to develop a solution that is AI-driven. By AI, Artificial Intelligence, I mean a system designed purposely to ease access to our services, making them more effortless, accessible, and user-friendly. That is why we embedded AI into our system. When I started, I mentioned that I inherited the system without a proper handover from my predecessor. This created an immediate challenge. As I began implementing compliance and registration drives, including the registration of FinTech POS operators, our portal became overstretched and nearly crashed. The total size of the portal was initially just 3.5 terabytes, but within three months, it ballooned to 11.7 terabytes, without space to expand further. Had I been properly briefed, I could have planned a better approach.
As a matter of necessity and urgency, we developed a new portal. In designing it, we focused on providing a system far superior to the previous one, incorporating a large capacity and an AI component. The purpose of this innovation is to make services easier for our customers. Our ultimate goal is to allow business registration to be conducted within minutes, accessible anywhere in the world, 24/7.
We implemented this in phases. Phase one was launched on the 30th of June, 2025, specifically to make business name reservation easier. I am proud to say that we achieved 100% of this phase. Now, anyone can search and reserve a business name anywhere. Previously, this process could take hours or even two to three days because civil servants had to manually approve names.
Our system now allows this process to happen within one minute. Once a name is available, the applicant can immediately confirm it. The system automatically prevents prohibited names, such as those related to IPOB or Boko Haram, which previously required manual vetting. This AI-driven system eliminates discretion and human bottlenecks, empowering users to control the process directly.
Why is formalising informal businesses a critical part of your leadership, and how is the CAC engaging with the private sector, especially MSMEs, to achieve this?
Formalisation of businesses is critical because about 50% of our GDP comes from MSMEs. Many of these businesses, often small, informal operations taking place on the streets, are not registered in the system. This creates a challenge for the economy because most transactions are happening off record. To understand the volume of transactions and the flow of money in the system, these businesses must be captured officially.
To capture them, we first need to create an identity for these businesses, which begins with giving them a legitimate name. This is done through registration with the Corporate Affairs Commission, which has the sole mandate to register any business in Nigeria. This illustrates how critical the CAC is to the economy and the formal business sector.
To make registration easier for informal businesses, we have taken steps to bring services to their doorsteps. For example, in the fintech sector, we allowed businesses to register without visiting the CAC portal. All fintech operators now have access through their own systems, including POS subscriptions, and can obtain a CAC certificate directly. This has enabled many informal businesses to become registered, giving the government, including state governments and the FIRS, the ability to monitor transactions above 10,000 Naira and collect relevant stamp duties. As a result, the government now benefits more from formal economic activity and has better data on the number of operating businesses.
In addition, to support MSME growth, the CAC recently provided 250,000 free business registrations to small businesses in Nigeria. This initiative is part of a broader effort to formalise businesses and is done in collaboration with SMEDAN, which provides training and support to these businesses. The goal is not just registration but creating jobs. Through this programme, CAC is effectively creating 250,000 youth employment opportunities in Nigeria.
Looking ahead, we aim to increase this initiative to 1 million free business registrations by the end of 2026. This ongoing intervention underscores our commitment to formalising informal businesses and supporting MSME growth across the country.
How do you leverage private sector participation through the CAC’s work to stimulate economic growth and job creation in Nigeria?
My knowledge of administration, combined with my certification as a business administrator and expertise in investment, has been instrumental in leveraging the CAC to support the private sector. Beyond our core registration functions, the Commission’s activities cut across several key areas that directly impact economic growth. For instance, the CAC plays a central role in insolvency practices in Nigeria. Through the Commission, one can determine the number of foreign investments in the country, as well as verify claims about companies leaving Nigeria. Any company that intends to exit the country must file winding-up processes with us. This gives us accurate and verifiable data, highlighting our relevance to investment monitoring in Nigeria.
Our role goes beyond merely receiving applications for winding up. The law empowers us to rescue distressed businesses that are at risk of leaving the country. We have a dedicated unit under the compliance department responsible for handling such applications. This unit works daily to support businesses and help stabilise their operations in line with legal provisions.
Contrary to rumours that companies are leaving Nigeria en masse, many businesses are simply shifting their line of business. For example, a company previously focused on pharmacy might identify potential in the minerals sector, leading to a change in name or registration details. These changes can be misreported, but only the CAC can provide accurate data. In fact, the number of investors entering Nigeria currently exceeds those filing for winding up, which demonstrates the CAC’s positive impact on stimulating private sector participation, economic growth, and job creation.
What key performance indicators (KPIs) have you set for the CAC under your leadership, and how is progress tracked, accounted for, and reported to stakeholders?
I mentioned earlier that when I assumed office, my focus was on strengthening the institution. At the time, President Buhari had just appointed his ministers, and he ensured that all ministers signed performance contracts with him. In our ministry, my supervisory ministry is the Ministry of Industrial Trade and Investment, headed by Dr Jumoke Oduwole MFR. She has a performance bond with me, which is essentially a commitment outlining how I intend to achieve my team’s goals for the year. This ensures accountability because the government is results-oriented.
Coming down to my staff, I required all members of my management committee, including directors and heads of departments and units, to enter into performance contracts with me as well. The structure is now clear: the President to the Minister, the Minister to me, and I directly to my directors. Each director understands the goals expected of them, and if they cannot deliver, they are required to exit.
However, the integration of AI into our system has caused concerns among staff about redundancy. For example, three departments that previously handled business name availability, registration vetting, and certificate generation have now been largely automated. AI now performs these tasks, which were formerly manual. As a result, these departments no longer function in the same capacity as before.
To address this, we have developed new KPIs for the affected staff, ensuring that they remain accountable and productive within the organisation despite the operational changes brought about by AI.
How are you going to assess their performance? Are you going to sack them?
No, no, no. In fact, AI came to us as a tool to support our operations, not to remove anyone from their job. AI will not consume your work if you are using it properly. But if you are not using AI correctly, it can affect your work. That is the philosophy we have about AI. What we do is fine-tune their operations to the appropriate quarter.
How is CAC ensuring efficiency and contributing to Nigeria’s economic development, even if it means making difficult decisions within the law?
We have sufficient work to do. Beyond the traditional or ordinary perception of the Commission, where people often see us merely as a registration agency, we also have compliance and other roles to play within the law. This is how we are channelling the energy of our staff—redirecting them from routine tasks to more impactful responsibilities. Even with AI, which is still not fully mature in Nigeria, human oversight remains essential. That is why we have what we call a “human in the loop”. For example, any decision made by the AI is reviewed and tracked by a human being using their experience to ensure it is proper.
Since AI is an external system integrated into our operations, it must align with our practices and traditions. The human supervisor ensures that if a decision is correct, it is accepted, and if not, it is immediately corrected. In this way, staff continue to play a critical role, even as AI enhances efficiency.
How do you rate your performance in terms of formalising the informal sector? You mentioned progress—how far have you moved it, and what are your goals for the next one, two, or three years?
I can confidently say that what I have achieved in the formalisation of businesses within two years surpasses what the three previous Registrar Generals accomplished in terms of numbers. You can verify this by comparing the number of registered entities in Nigeria prior to my assumption of duty with the current figures. In just two years in office, we are talking about millions of registrations.
We did not rely solely on traditional methods of bringing businesses into the system. Instead, we created additional access points that took registration directly to citizens. For example, we provided fintech access, and other stakeholders were given the ability to register their clients independently, without going through the CAC portal. This approach significantly increased registration coverage.
Specifically, regarding POS operators, data from the Nigeria Interbank Settlement System (NIBSS) and the Central Bank of Nigeria show millions of active POS devices. Currently, we have brought almost half of them into the formal system, and we will soon ensure the remaining operators are registered. Formalising these businesses also supports national security. There have been instances where ransom payments were made through POS terminals, and the anonymity of these operators posed risks. By registering them, we now have verified data on POS owners, which security agencies can access when necessary. This initiative not only brings informal businesses into the system but also strengthens oversight and accountability.
What is the CAC of your dream?
The CAC of my dream is a system that can operate independently, without the need for constant human intervention.
At present, CAC is the only corporate registry in the world that can provide business name registration in less than 10 minutes from start to finish, including issuing the certificate. We deployed this capability 100% in the first phase. Even countries like the UK are now planning to use AI to improve their services, but CAC has already demonstrated and implemented this level of efficiency. Of course. I understand the challenges we are facing. We are yet to fully stabilise the system due to adjustments made during the first phase of the reservation process and other aspects. Some customers are finding it difficult to access all services on the CAC portal because of changes to the interface. They are not familiar with the new system, having been used to the old one.
Additionally, integration with remitters and the FIRS presents challenges. For instance, payments made during registration now go through CAC and must synchronise with FIRS systems. Because our new portal is more advanced, occasional difficulties in synchronisation occur. I have assured my team that we are fully committed to stabilising the system, and we are actively working to resolve these issues.
Which of your achievements are you most proud of?
One, two, or three. Technology is one, as you are bringing and deploying technology. But what are your proudest achievements so far? I can tell you that first and foremost, I revived the morale of my staff. The CAC is one of the few agencies that reviewed and improved the take-home salaries of its staff. While salaries for some positions, such as principal managers, were previously less than ₦300,000, I can confidently say that our principal managers now earn significantly more than their counterparts in most other agencies in Nigeria. In fact, the amount they earn is more than twice what was previously standard, and I can categorically affirm that their remuneration is now substantially higher. This was achieved alongside other strategic arrangements to enhance staff welfare.
How would you describe the current state of staff welfare and salaries at the CAC?
Let me tell you, CAC is the only agency in Nigeria where all exit staff—those leaving the service—receive their payment promptly. As soon as they leave service, their entitlements are processed. Unlike other institutions, even the CBN, where it can take days to clear payments, at CAC, if you submit your exit today, you can expect your payment by tomorrow or the next day. This demonstrates our commitment to staff welfare.
The welfare of our staff is a top priority. None of my directors receive less than 600 percent of what customs officers receive in similar positions. This is a deliberate effort to improve staff conditions and convenience. We also provide flexibility in the workplace. For example, employees no longer have to be relocated inconveniently across states; they can work where they feel most comfortable, allowing them to balance personal and professional life effectively.
Additionally, we enhance staff convenience through our corporate facilities. For instance, we provide shuttle buses in Abuja so staff do not have to use their personal cars to get to the office. We also ensure that the corporate environment supports productivity and comfort. These initiatives reflect the modern CAC and our commitment to improving both staff welfare and operational efficiency.
This year, 2025, we have trained almost two-thirds of my staff, even though we only assumed office in the last quarter of the previous year. The training has been both local and international. Regarding international training, I doubt any other government agency provides such opportunities to their staff like CAC does. I cannot give the exact number, but our staff have attended programmes in Marrakesh, Casablanca, Qatar, and several other countries to build their capacity and enhance their skills.
So, in addition to improving staff welfare, we have made significant progress in technology and capacity building. I believe these efforts have greatly strengthened our team and their ability to deliver effectively.
What was the revenue like when you took over, and where is it today?
Let me tell you, when I came into office, CAC had achieved the highest revenue in its history up to that point. In my first year, I tripled that amount, and in my second year, I increased it to four times the previous record. This demonstrates our capability. Moving forward, my goal is to make CAC one of the best agencies, not only in providing services but also as a major revenue-generating agency for the government. We can now be categorised as one of the largest revenue-contributing agencies in Nigeria.
What legacies are you looking at leaving behind in the agency?
Let me tell you, we have a law created by the National Assembly to help us achieve our mandate as the Corporate Affairs Commission. Unfortunately, most provisions of this law have been left untouched and untested. I recently dealt with a dispute involving River Estates and River Park Estates here in Abuja, and another case from KPMG is awaiting my attention. These matters fall within our core mandate to supervise and regulate registered entities.
By stepping into our responsibilities, we prevent businesses from being frustrated and discourage investment. Businesses are increasingly turning to CAC rather than courts because the law empowers us to review cases, make findings, and take decisive action. This has fostered confidence in the Commission and, by implication, in Nigeria itself, even among foreign companies such as KPMG.
The institution I want to leave behind is one where the system is improved and strengthened to discharge its responsibilities effectively. When I leave office, anyone stepping in will be able to follow tested procedures, seeing how things operate and how responsibilities are carried out; this is the legacy I intend to leave.
What are the two or three things that you have set your eyes on achieving in the next two years?
Firstly, I am focused on a total overhaul of our services using AI, because for us to fully deploy this technology, it will take the remaining two years of our service. Why focus on AI? For many reasons, we cannot fulfil our responsibilities effectively without it. Currently, the CAC receives over 5,000 emails a day. With the available staff along that line, they can process fewer than 60 of these emails. Imagine 60 people trying to read, comprehend, and channel 5,000 emails to the appropriate authority or department for response. Even if they worked around the clock, they could not handle more than 20 percent of the daily emails. Tomorrow, another 5,000 emails will arrive, with customers complaining that the customer service unit is not responding.
AI, however, has the capacity to process all 5,000 emails within five minutes. It can read, comprehend, and channel each email appropriately: portal-related enquiries go to the ICT department, compliance-related issues go to the relevant unit, and customers receive timely responses. This is why I strongly believe in AI. It will enhance our services, make processes easier, and significantly improve the ease of doing business in Nigeria.
I want my staff to feel that they are the best in Nigeria in terms of agency. I aim to improve their services and standards far beyond what anyone can imagine in Nigeria. I am not competing with anyone—I am leading. That is why no organisation currently leveraging AI is performing better than CAC; we are always at the forefront of the ecosystem. While others talk about AI, we are actively putting it into practice. Give me two years, and you can come back to compare for yourself whether I have delivered a world-class commission.
How do you compare CAC to other countries, particularly any of the Public Service Commissions (PSC) in Africa?
In Africa, there is really no equivalent. Even South Africa does not come close; they are not even one-fifth the size of the Corporate Affairs Commission. Globally, only Malaysia has a system somewhat similar to the CAC in terms of registration. Beyond companies, CAC also registers associations, nations, and churches. This makes us one of the largest corporate registries in the world.
There have been many allegations against you in the areas of contracts and travelling without following due process. What’s your reaction to these allegations?
I do not see these allegations as important compared to the work we are doing. I am a legal practitioner and have reached a peak in my profession, holding the highest ranks. I am responsible and would never act against the provisions of the law. Regarding procurement exercises, I am fully aware of the Procurement Act. Everything we do at the Corporate Affairs Commission follows the Act. No contract is awarded outside the law. Any contract not advertised in the newspaper, as required, has a valid reason, such as urgency. In such cases, we submit the matter to public procurement authorities for approval, and only after obtaining a no-objection certificate do we proceed.
