By Joy Onu
A new Governing Board has been formally inaugurated for the Corporate Affairs Commission, marking a renewed push to accelerate business registration processes and deepen ongoing digital reforms within Nigeria’s corporate regulatory framework.
The inauguration, held in Abuja, reflects ongoing efforts to strengthen institutional efficiency, improve transparency in business regulation, and enhance Nigeria’s attractiveness to both local and foreign investors.
Speaking at the ceremony, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, described the CAC as a critical institution in Nigeria’s economic ecosystem, noting that its performance has direct implications for entrepreneurship, investment inflows, and overall economic growth.
She explained that the new Board has been mandated to drive reforms aimed at simplifying procedures, reducing bottlenecks, and strengthening digital service delivery, particularly for Micro, Small and Medium Enterprises (MSMEs), which remain central to private sector development.
According to her, government reforms are focused on building a more transparent and efficient regulatory environment that aligns with global standards and supports ease of doing business.
The Permanent Secretary of the Ministry, Mr. Chris Osa Isokpunwu, urged the new Board to work closely with management to ensure effective implementation of reforms. He emphasized the need for modern systems, improved coordination, and strict adherence to corporate governance principles.
He further noted that institutional efficiency remains key to achieving national industrial and trade objectives.
In his acceptance remarks, the Board Chairman, Senator Ibrahim M. Ida, expressed appreciation to President Bola Ahmed Tinubu for the confidence reposed in the team, pledging a performance-driven approach focused on improved service delivery and rebuilding public trust in the Commission.
He assured that the Board would prioritize reforms that make business registration and regulatory processes “faster, cheaper, and easier” for Nigerians and investors.
The inauguration is seen as part of broader efforts to reposition key economic institutions to support growth, strengthen competitiveness, and improve Nigeria’s overall investment climate.
