CAC Advocates Harmonisation of Beneficial Ownership Register to Curb Illicit Financial Activities, Others

The Registrar-General/Chief Executive of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, has called for the harmonisation and centralisation of Nigeria's beneficial ownership information to combat illicit financial flows and related crimes. He warned that fragmented databases across government institutions could hinder efforts to identify the individuals ultimately controlling companies and benefiting from corporate structures. Magaji made the call at a training workshop on the Beneficial Ownership Register for journalists and Civil Society Organisations in Abuja. He emphasised the need to move beyond separate 'islands' of information towards an interconnected national transparency architecture that enables regulators, law enforcement, journalists, and others to access data.

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