An Ambassador to the Corporate Affairs Commission (CAC), Micheal Nwabufo, has declared that Nigeria is no longer merely aligning with global best practices but actively competing on the world stage in instant business registration.
Speaking at a media briefing in Lagos, Nwabufo widely known as Mike Premium, described the commission’s ongoing digital transformation as a watershed moment in the country’s economic evolution.
According to him, the CAC’s AI-powered registration portal has significantly streamlined company incorporation processes, enabling entrepreneurs to register businesses and obtain certificates in record time, often within 10 minutes, subject to seamless National Identification Number verification.
“What many once thought impossible has become a reality,” he said, noting that the speed and efficiency of the platform position Nigeria among the fastest jurisdictions globally for business registration.
Surge in Registrations, Revenue Growth
Nwabufo said the reforms have triggered a surge in business registrations nationwide, translating into billions of naira in revenue inflows to the federal treasury. He described the development as a direct boost to economic growth and national development.
“Business remains the heartbeat of the nation,” he stated, adding that efficient registration processes strengthen productivity, encourage entrepreneurship, and enhance formal sector participation.
Beyond his ambassadorial role, Nwabufo also serves as National President of the Practitioners of Content Creators, Skit-Makers, and Influencers Guild of Nigeria (PCCSIGN), where he advocates institutional reforms to support Nigeria’s expanding digital and creative economy.
Call for Stronger Crypto Regulation
While commending the CAC’s reforms, Nwabufo raised concerns about regulatory gaps in the cryptocurrency and digital asset space.
He warned that the growing presence of unregulated crypto platforms poses risks to investors and undermines confidence in Nigeria’s financial ecosystem.
“Over time, we have witnessed a troubling rise in unregulated and non-compliant crypto platforms. Many Nigerians have suffered financial losses from entities that operate without proper oversight, accountability, or regulatory approval,” he said.
He urged crypto vendors and digital asset operators to align strictly with the regulatory framework established by the Securities and Exchange Commission (SEC), stressing that compliance is essential to safeguard market participants and preserve the credibility of Nigeria’s digital finance landscape.
According to him, strengthening oversight in emerging sectors must go hand in hand with innovation-driven reforms.
“As we modernise our business environment, regulatory discipline and institutional accountability must remain non-negotiable,” he added.
Nwabufo maintained that Nigeria’s rapid digital transformation in corporate registration demonstrates what is possible when technology, policy reform, and institutional commitment converge, but warned that sustaining progress will require vigilance, particularly in fast-evolving sectors such as cryptocurrency and digital assets.
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