The Registrar-General of the CAC, Hussaini Magaji, disclosed this during a “Celebration Walk” organised by the commission on Saturday in Abuja, according to the News Agency of Nigeria (NAN).
Magaji said the mass de-registration exercise was carried out to eliminate entities that failed to meet statutory obligations, adding that the move was critical to preserving the credibility and integrity of the national companies register.
He explained that the clean-up exercise aligns with broader reforms undertaken by the commission to modernise corporate regulation and improve Nigeria’s ease of doing business. According to him, the CAC has fully transitioned from a manual, location-based registry to a comprehensive digital platform that allows end-to-end corporate services.
As a result of these reforms, business owners can now register companies and access CAC services remotely, regardless of their location. Magaji noted that the commission currently operates a 24-hour digital service that enables entrepreneurs to complete registrations without physically visiting CAC offices.
“Today, CAC provides services anywhere, anytime and round the clock. You can register your business from your room without coming to our offices,” he said.
The registrar-general added that the digital transformation has boosted investor confidence, improved transparency, and strengthened Nigeria’s business environment by making corporate processes faster and more accessible.
Magaji also revealed that the CAC, in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has facilitated free business registrations for 250,000 entrepreneurs nationwide. He said the initiative was aimed at reducing the cost burden of formalisation and encouraging small businesses to operate within the regulated economy.
In addition, he highlighted the commission’s implementation of a Beneficial Ownership Register, designed to enhance transparency by enabling the public to identify the true owners of companies operating in Nigeria.
According to Magaji, the register has gained international recognition and now serves as a global reference point in the fight against financial crimes and efforts to promote corporate accountability.
He reaffirmed the commission’s commitment to continuous reforms that support business growth while ensuring compliance with Nigeria’s corporate laws.