Abuja, Nigeria – In a move set to transform how businesses and individuals interact with corporate registration data, the Corporate Affairs Commission (CAC), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), officially unveiled its new Application Programming Interface (API) integration platform on Monday in Abuja. This initiative is designed to provide seamless and secure access to verified data, boosting efficiency and supporting critical regulatory efforts.
Expanding Data Access to "Super Agents"
Speaking at the launch ceremony, Hussaini Ishaq Magaji, the Registrar-General of the CAC, announced that the API initiative will grant a select group of private sector organizations, designated as “super agents,” the ability to retrieve data directly from the commission’s database for a fee. This marks a significant departure from previous practices, where such API services were primarily restricted to a limited number of government agencies, particularly those involved in law enforcement and financial crime investigations.
Magaji explained that this integration is a direct response to customer demand for prompt services, effectively bringing CAC services closer to its clientele through collaboration with "technology-savvy organisations like NIBSS." He further highlighted that the initiative is integral to Nigeria's efforts in Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT), while simultaneously advancing the ease of doing business in the country.
Tailored Data and Data Protection Compliance
The CAC boss elaborated that these "super agents" will possess the capability to process and reformat company data, offering customized information tailored to their clients' specific needs, which will extend beyond the standard information typically provided by the commission.
Crucially, Magaji emphasized that the development and implementation of this integration adhere strictly to the provisions of the Nigerian Data Protection Act 2023. As such, sensitive personal details, including residential addresses, email addresses, phone numbers, and dates of birth, will be protected and potentially restricted to ensure privacy.
NIBSS and Other Pioneers Lead the Charge
The initial cohort of pioneering "super agents" named by the CAC includes NIBSS itself, along with Moniepoint, Opay, and Oasis Management Company Limited. Magaji lauded NIBSS as a credible and trusted partner, noting its established track record in providing biometric verification services nationwide through the Bank Verification Number (BVN) system.
"With this initiative, embassies, financial institutions, and other entities can now obtain verified company information and status reports more efficiently through NIBSS,” he stated, highlighting the expanded utility of the platform.
A Game-Changer for Public-Private Collaboration
Ngover Ihyembe-Nwankwo, Executive Director of Business Development at NIBSS, also spoke at the launch, hailing the initiative as a "game-changer" for public and private sector collaboration in Nigeria.
"This service democratises access to data verification, ensuring it is secure, inclusive, and efficient,” Ihyembe-Nwankwo affirmed. “It marks the beginning of a new era where access, innovation, and trust are integrated into service delivery for all Nigerians.”
She further noted that this partnership aligns seamlessly with NIBSS’s long-standing goals of enhancing interoperability, reducing costs within the financial services ecosystem, and driving digital transformation across the country. "Through this collaboration, we are helping to build a more transparent and trustworthy environment for doing business in Nigeria,” she concluded.
Stakeholders present at the launch universally hailed the CAC-NIBSS partnership as a significant milestone in Nigeria’s digital economy journey. They expressed optimism that this collaboration sets a powerful precedent for future private sector-driven innovations in public service delivery, promising a more efficient and transparent business environment for all.