The Corporate Affairs Commission has vowed to impose sanctions on any officers found violating application guidelines and procedures.
In a statement on Thursday, the Commission expressed concern over complaints indicating that some officers may be fast-tracking certain applications at the expense of others.
“The Commission does not take these allegations lightly and is, therefore, investigating them with a view to taking decisive action against anyone found violating its established guidelines and standard operating procedures,” the CAC stated.
The Commission stated that while complaints are being thoroughly reviewed by the Registrar-General, customers and the public are encouraged to submit any incriminating evidence against erring officers, regardless of their position, for proper disciplinary action.
The CAC also emphasized its commitment to using artificial intelligence to enhance transparency in the registration process.
“We, however, wish to state that all applications are treated equally based on merit and a first-come, first-served basis, while some paid services are offered the same day upon request on the Companies Registration Portal (CRP).
““In a bid to further enhance transparency, the Commission has made arrangements to deploy artificial intelligence (AI) to drive the entire registration process and eliminate human interference, in line with global best practices,” the CAC added.
The Commission reaffirmed its commitment to providing prompt and efficient service to customers.
This follows the recent announcement that the Commission is processing at least 15,000 applications daily, including on weekends, as part of its fintech regularization program.
The Commission also issued a public notice regarding the ease of doing business, responding to media claims about its services, particularly concerns over the availability of name searches.
It stated, “The general public may recall that, in line with the provisions of Section 863(1) of the Companies and Allied Matters Act (CAMA) 2020, and the CBN guidelines for Agent Banking, 2013, the Commission commenced the regularization of all fintechs in the country.
“In light of the set deadline for the regularization of fintechs, the Commission is handling no less than 15,000 applications per day (weekends inclusive), and its dedicated approving officers are working tirelessly to process applications based on their merits.”
