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Tuesday, June 24, 2025

Why we are increasing charges, by CAC

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The Corporate Affairs Commission (CAC) has announced a review of its service fees, set to take effect from August 15, 2025.

The Commission said the move is part of ongoing efforts to improve service delivery, enhance efficiency, and adapt to current economic conditions.

The Commission, in a statement cited rising operational costs and broader economic pressures as key reasons for the adjustment.

The Commission further revealed that it had engaged with critical stakeholders before arriving at the decision. 

The statement read partly: “The Commission wishes to inform the general public, esteemed customers, and all stakeholders that in the continued efforts to improve its service quality and delivery, it has become necessary to review certain service fees effective the 15th day of August, 2025.”

According to the CAC, the fee adjustments are essential to maintain the pace of its ongoing digital transformation and to continue offering prompt, technology-driven services to its users.

It emphasized that the fee changes would be modest, competitive, and aligned with its strategy to strengthen the integrity of the Nigerian Corporate Registry and boost investor confidence.

The Commission also reaffirmed its commitment to transparency, accountability, and customer satisfaction, stating that the new pricing framework would support its mission to build a more resilient and responsive corporate regulatory environment.

While the Commission has not yet published a detailed list of the revised fees, stakeholders are advised to prepare for the changes and expect more communication in the coming weeks.

The announcement by CAC comes as the latest in the list of government agencies that have notified Nigerians of an increase in the price of their services in recent times.

Earlier, the National Identity Management Commission (NIMC) increased fees for all its products and services, which include charges for modification of data on the National Identification Number (NIN) database.

The Commission said the price review came “after a decade of maintaining the same price structure,” adding that the increment is to ensure alignment with current operational costs and industry standards.

According to NIMC, the revised pricing structure aimed to maintain the quality and integrity of its services while ensuring affordability and accessibility for Nigerians.

The increment announced by NIMC saw the fee for change of Date of Birth on the NIN database increase by 75 per cent from N16,630 to N28,574.

source; The Nation News.

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