CAC mulls single database for beneficial ownership register

The Corporate Affairs Commission has called for the harmonisation and centralisation of Nigeria's beneficial ownership information to strengthen transparency and combat corruption, illicit financial flows, money laundering, terrorism financing, and abuse of corporate structures. The Registrar-General, Hussaini Ishaq Magaji, made the call during a training on the Beneficial Ownership Register for journalists and Civil Society Organisations. He noted that Nigeria currently operates three separate beneficial ownership transparency registers under different institutional frameworks, including those maintained by the CAC, NEPZA, and NEITI.

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