Michael Nwabufo is the Ambassador of the Corporate Affairs Commission. He has stated that Nigerians are now ahead in terms of instant registration.
Nwabufo (also known as Mike Premium), while speaking to journalists on Monday in Lagos, described the digital transformation of the Commission as a significant milestone in Nigeria’s economic history.
CAC achieved something many thought was impossible. It is the first African nation, and one of the most advanced globally, to have deployed an AI-powered, advanced registration portal, which allows entrepreneurs to register and get their certificates quickly, usually within 10 minutes, (subjected to seamless NIN validation).
The surge of business registrations has generated billions in revenues, which is a substantial contribution to the national treasury. This will support economic growth and the development of the country for all Nigerians.
What we see today isn’t just an administrative upgrade. This is not a simple administrative improvement. It is a technological leap. This is Nigeria’s way of letting the world know that it embraces efficiency, transparency and digital progress.
For decades, the registration of businesses was fraught with bureaucracy and unnecessarily high barriers.
Entrepreneurs had to deal with friction. Innovations faced challenges. The process slowed down the opportunity. “But today, this narrative is changing,” said he.
The content and talent manager reaffirmed his commitment to the national development of the country through institution reform. He called for stronger regulations for crypto vendors in order to protect the players.
Nwabufor is the national president of the PCCSIGN (Practitioners of Content Creators Skit-Makers and Influencers Guild of Nigeria).
He said business was the lifeblood of Nigeria, connecting people, driving productivity and sustaining the economy.
Nwabufo stated that the platform integrates digital and biometric identity checks in order to improve accuracy and eliminate fraud. He also noted that intelligent automation is now driving name reservations, document processing, and compliance validation.
The introduction of online payment, digital certificates, and biometric identification validation signals something significant.
“Nigeria has not caught up.” He said that Nigeria was competing.
The portal’s key features, according to him, include online verification, instant integration, fraud reduction protocols and API integrations.
The digital one-stop process, he said, eliminated the need for physical visits and reduced bottlenecks in bureaucracy. It also improved transparency.
Entrepreneurs no longer have to deal with unnecessary friction. “Innovators don’t have to keep waiting for endless approvals,” said he.
Malam Ishaq Magaji was commended by the ambassador for his visionary leadership and commitment to reform.
He stated that reforms have improved investor confidence through compliance monitoring and transparency.
Digital efficiency does not mean convenience. Economic acceleration is what it means. It’s national competitiveness. This is progress that can be measured.
Nigeria is progressing, and CAC reforms are a testament to what can be achieved when technology, governance and institutions converge.
As we rejoice this progress, it is important to also stress responsibility.
Compliance must match speed. Integrity and innovation must go hand in hand.
Regulation must match growth.
Particularly in emerging industries such as digital assets and financial technology, compliance with proper regulatory and registration frameworks is non-negotiable.
He said that the future of Nigeria is structured progress, legal enterprise and transparent systems.
Nwabufo, while celebrating reforms, stressed the importance of regulatory compliance and discipline, particularly in sectors that are emerging, such as digital assets and cryptocurrency.
The rise of crypto-platforms that operate without oversight and are unregulated has raised his concern.
Over time, there has been a disturbing rise of unregulated crypto platforms that are not compliant. Nigerians are suffering financial losses due to entities operating without oversight, regulatory approval, or accountability.
He said that the situation was not just harmful for individuals, but it also hurt Nigeria’s financial and digital ecosystem.
Nwabufo called on cryptocurrency and digital assets vendors to adhere strictly to the Securities and Exchange Commission’s (SEC) regulatory framework.
The alignment of regulatory requirements is absolutely essential. “It is vital for the protection of investors, market integrity, and national economic stability,” said he.
He warned content creators, influencers and others against the promotion of unregistered digital assets and financial platforms.
In many instances, the creators advertise fraudulent platforms without their knowledge.
“When problems occur, Nigerians will pursue promoters,” said he.
Influencers should request proof of SEC licensure before signing any advertising or ambassadorial agreements.
Crypto brands that do not have a valid SEC registration cannot expect to be able to leverage Nigerian content creators.
He said that “responsible marketing must be built upon verified compliance and legitimacy.”
Nwabufo emphasized that Nigeria’s success depends on a structured development, legal enterprise and transparent system.
What we’re seeing at the Corporate Affairs Commission, is a shift in structure.
He said, “It shows what’s possible when technology, governance and institutional will all converge.”
