Corporate Affairs Commission Urged to Prioritise Human Capital for Economic Growth
A leading corporate law expert has urged Nigeria’s Corporate Affairs Commission (CAC) to place human capital development at the centre of its operations to enhance service delivery and drive sustainable economic growth.
Speaking at the CAC’s 35th-anniversary ceremony in Abuja, Professor Effiong Esu described corporate entities—such as companies, business names, and NGOs—as the primary engines of investment, wealth creation, and resource mobilisation across Nigeria’s key sectors. He noted that a well-regulated corporate environment fosters entrepreneurship, innovation, and investor confidence, largely through mechanisms like perpetual succession and limited liability.
As the government body responsible for registering and regulating these entities, the CAC plays a strategic role in national socio-economic development, Professor Esu said. He added that the milestone anniversary presents an opportunity to adopt a forward-looking strategy that exceeds stakeholder expectations, especially amid digital disruption and heightened regulatory demands.
To strengthen its capacity, Professor Esu called on the CAC to transform into a learning organisation. He recommended establishing a fully equipped training school to continuously upskill staff and train specialists—including insolvency practitioners and liquidators—critical to modern corporate regulation. He also highlighted the need for specialised skills in customer service, finance, information and communications technology (ICT), and legal services to ensure efficient, transparent, and accessible service delivery.
Attracting and retaining talent, he said, requires improved welfare packages and incentives for staff. Service at the commission should be viewed as a national duty given its direct impact on economic prosperity, he stressed.
Furthermore, Professor Esu advised that the CAC’s operations and data be classified as strategic national assets rather than mere revenue sources. He also advocated for continuous staff reorientation, wider stakeholder education, and the adoption of Total Quality Management principles to streamline regulatory processes.
According to Professor Esu, strengthening human capital and institutional capacity within the CAC will deepen public trust, enhance regulatory effectiveness, and firmly position the commission as a true gateway to Nigeria’s economic development.
