Nigeria Risks Losing Investors Over Delays – RMAFC Warns as CAC Expands AI Registration
Mirian Gom 
Chairman, RMAFC’s Investment Monitoring Committee, Enefe Ekene
ABUJA, Nigeria – Nigeria could lose critical investment opportunities if it fails to accelerate business registration processes, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has warned.
Chairman of the RMAFC Investment Monitoring Committee, Enefe Ekene, raised the concern during a meeting with the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, in Abuja.
He said bureaucratic bottlenecks, particularly in company registration, are undermining Nigeria’s competitiveness in a fast-paced global investment environment.
“Investors expect seamless, one-stop systems where business registration is completed within days, not weeks,” he said.
Ekene stressed that delays could drive investors to countries with faster and more efficient processes.
In response, the Corporate Affairs Commission (CAC) highlighted ongoing reforms, including the deployment of artificial intelligence to process up to 10,000 registration requests daily.
Registrar-General Hussaini Magaji said the upgrade has significantly improved efficiency and positioned the commission to handle increasing demand from digital businesses and tax reforms.
The CAC has evolved from a manual system in 1991 to a fully digital, 24-hour registry accessible globally.
Minister Oduwole acknowledged the concerns and reaffirmed the government’s commitment to improving coordination across agencies to enhance the investment climate.
Both parties agreed on the need for stronger institutional collaboration to eliminate bottlenecks and attract more foreign investment.
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Edino Chubiyo Cornelius 
Otamere Gladness