By VIVIAN EMONI

The Federal Government has inaugurated the Corporate Affairs Commission (CAC) Governing Board and Intellectual Property Steering Committee to enhance transparency, improve investors’ confidence and stimulate economic growth.

Dr Jumoke Oduwole, Minister of Industry, Trade and Investment, inaugurated the board on Wednesday in Abuja.

Oduwole described CAC as the legal framework of Nigeria’s economy, playing vital role in business registration, governance and economic stability.

She noted that the appointment of the board members reflected careful consideration by President Bola Tinubu, given the importance of the commission to national development.

She expressed optimism that the new board would strengthen Nigeria’s business ecosystem and enhance the country’s global reputation.

According to her, CAC plays a critical role in registering businesses, managing records and ensuring compliance nationwide.

She urged the board to drive reforms that would promote transparency, attract investment and support infrastructure and job creation.

The minister also charged the board to prioritise digital innovation, improve financial growth and simplify processes for Micro, Small and Medium Enterprises.

She emphasised the need for integrity, stakeholders’ collaboration and a great measurable results during the tenure.

She revealed that CAC processes had been largely automated, assuring Nigerians of continued improvements, strong oversight and sustained efforts to strengthen the commission.

She commended the board members, management of the ministry and other relevant stakeholders for their roles in strengthening Nigeria’s business environment and supporting institutional development.

Oduwole also expressed confidence that their expertise would elevate CAC’s performance.

Responding, Sen. Ibrahim Ida, Chairman of the governing board, said that the committee priority would be to identify challenges in technology, timelines and trust, and fix weaknesses while strengthening existing systems for improved service delivery.

According to him, the board will play a strategic role, not operational. We will provide direction and ensure management delivers efficient and effective services.

“We seek an open-door policy from the minister to support reforms requiring policy backing and coordination.

“We are committed to work to boost investment inflows.

Ida thanked the president and the minister for the trust reposed in the committee, while pledging to deliver under the Renewed Hope Agenda.

“We appreciate the minister and the entire ministry. We are inheriting a strong institution.

“To Nigerians and global stakeholders, we pledge to discharge our duties effectively and ensure that business registration is faster, cheaper and more transparent,” he said.

The Permanent Secretary of the ministry, Dr Chris Isokpunwu, urged the board to strengthen synergy in border management and prioritise modernising registration processes to support industrialisation and trade.

He assured that the ministry would provide policy guidance, emphasising digital transformation, regulatory compliance and strong corporate governance as key to ensuring that the commission delivered effectively for Nigerians and the business community. (NAN)

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