The Corporate Affairs Commission (CAC) is considering adoption of the National Identification Number (NIN) as the lone requirement by applicants for the registration of businesses and company incorporation.
It will replace the current forms of identification required of applicants while registering business.
The Commission’s Registrar-General, Garba Abubakar, made this known at the 2022 Management Retreat in Kano.
According to Abubakar, using the National Management Data would supersede the need for additional forms of identity, such as a passport or driver’s license, while registering with the CAC.
“For every Nigerian and a foreigner residing in Nigeria, all we will require from you moving forward is your NIN, and we will validate your information from the NIN. If there are discrepancies, we will not register; you have to rectify it,” he said.
He added that the Commission is attempting to develop a mechanism that would make it easier and more efficient to submit financial data than the one it currently has.
So far, over 51 million people have received National Identification Numbers (NINs), according to the National Identity Management Commission (NIMC) based on the updates of the NIN-registration procedure.
Several people have registered and are currently having their NINs assigned.
With an average of three to four SIMs per person, the total number of SIMs linked to NINs would be near the total number of SIMs registered nationwide.
Currently, there are roughly 2.6 million NIN registrations per month, which amounts to a huge increase. Additionally, there has been a notable increase in the number of enrollment centers around the country.