Ishaq Hussain Magaji and the Bold Reformation of Nigeria’s Corporate Governance
By Abdullahi O Haruna Haruspice
Nigeria’s corporate landscape is undergoing a remarkable transformation, and at the heart of this shift is Ishaq Hussain Magaji,SAN, the Registrar General of the Corporate Affairs Commission (CAC). Though still early in his tenure, Magaji has swiftly dismantled bureaucratic bottlenecks, ushering in a new era of efficiency, transparency, and digital innovation. His leadership has reshaped the CAC into a business-friendly institution, earning him the well-deserved title “The Corporate Governance Czar.”For years, entrepreneurs and investors grappled with a corporate registration system plagued by delays, inefficiencies, and opacity. Under Magaji’s stewardship, this narrative is changing. He has prioritized full digitization of business registration, reducing processing time from weeks to hours. His commitment to corporate transparency is evident in the introduction of Nigeria’s first Beneficial Ownership Register, a critical tool in combating illicit financial flows and ensuring accountability in corporate structures.
Beyond technological reforms, Magaji is leading a legislative push to strengthen corporate governance laws. His work on amending the Companies and Allied Matters Act (CAMA) reflects a broader vision—one where Nigeria’s regulatory framework aligns with global best practices, fostering a business climate that attracts both local and international investors.
His tenure is also a striking example of how young, competent leaders can drive institutional reform. A product of the “Not Too Young to Run” era, Magaji’s success underscores the potential of merit-based leadership appointments, proving that age is no barrier to transformative governance. His role within President Bola Ahmed Tinubu’s administration signals a shift towards governance that values efficiency, innovation, and accountability.
However, the journey is far from over. While Magaji has laid a strong foundation, sustaining these reforms requires continuous oversight, stakeholder collaboration, and policy enforcement. The fight against corporate malpractice and regulatory evasion is ongoing, and only a firm commitment to his agenda will ensure lasting impact.
As Nigeria strives to build a more transparent, investor-friendly economy, Magaji’s leadership at the CAC is a beacon of what is possible when vision meets execution. If his trajectory is anything to go by, then indeed, the “Not Too Young to Run” movement is not just an ideal—it is a reality shaping Nigeria’s governance for the better.