A concerned accredited agent has written an open letter to the Registrar General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, SAN, highlighting regulatory lapses under CAMA 2020 and administrative inefficiencies in the management of the Intelligent Company Registration Portal (ICRP).
The letter, written by a legal practitioner with close to a decade of immersion in Nigeria’s corporate landscape and a cybersecurity expert, offers a formal evaluation of the current Registrar General’s stewardship since his historic appointment in October 2023 as the first Senior Advocate of Nigeria (SAN) to lead the Commission.
The letter stated: “This open letter is rendered at a critical juncture in Nigeria’s corporate history. Six years post-enactment of the Companies and Allied Matters Act (CAMA) 2020, the promise of a ‘seamless digital registry’ remains a flickering mirage. Despite the lofty ambitions of the Act to drive the ‘Ease of Doing Business,’ the current administration of the Corporate Affairs Commission (CAC) under the Registrar General (RG), Hussaini Ishaq Magaji, SAN, has overseen a period of significant technical and administrative instability.”
The letter acknowledged some achievements. The launch of the Intelligent Company Registration Portal (ICRP) in mid-2025 marks a definitive departure from the legacy systems of the past.
By introducing AI-driven name similarity checks and automated workflows, the Commission under RG’s administration has:
The initiative to formalize over 4 million informal businesses in 2024–2025 has significantly broadened the tax net and provided a pathway for MSMEs to access credit.
RG’s commitment to transparency, particularly regarding the Beneficial Ownership Register, has positioned Nigeria favorably with the Financial Action Task Force (FATF).
However, as of January 2026, the following “registration lapses” have become systemic:
Thousands of entities registered between 1990 and 2024 have “vanished” from ...-incorporation portal. This prevents companies from filing Annual Returns, changing Directors, or increasing Share Capital, effectively placing them in a state of regulatory stasis.
Critical fields, particularly Share Capital and Trustee details, remain uneditable during query resolutions, forcing users to abandon applications and forfeit non-refundable fees—a practice that borders on unjust enrichment by the Commission.
Despite claims of seamless identity verification, the synchronization with the National Identity Management Commission (NIMC) remains erratic, leading to months of delays for simple Business Name registrations.
The letter stated: “The current RG, despite his status as a Senior Advocate of Nigeria, appears to have prioritized ‘optical reforms’ over functional stability. His leadership exhibits three fatal weaknesses:”
1. SYSTEMIC INSTABILITY AND CUSTOMER SUPPORT “BLACK HOLE”
The transition to the ICRP was fraught with “teething problems” that persisted longer than anticipated. The frequent downtime and the “disappearance” of legacy records during migration have caused significant anxiety among corporate directors, shareholders, investors, business partners locally and internationally and their solicitors.
While the AI handles routine filings, the Commission’s human-interfaced support (emails and helpdesk) remains largely non-responsive. Complex queries that require human legal judgment such as Section 839 interventions or complex share restructurings are often stuck in a loop of silence.
2. DISCONNECT FROM STAKEHOLDERS
While the Commission hosts “Stakeholder Forums,” the feedback from the Nigerian Bar Association (NBA) and ICSAN is routinely ignored.
The decision to increase filing fees on October 1, 2025, amidst a malfunctioning portal, was not only insensitive but economically regressive. It penalizes the compliant for the Commission’s technical incompetence.
3. FAILURE OF TECHNICAL OVERSIGHT
The RG’s “AI Revolution” lacks a robust Disaster Recovery Plan. The migration to ICRP was rushed, lacking a “Beta Testing” phase that involved the primary users (Lawyers and Accountants).