Nigeria’s beneficial ownership register first in Africa – CAC RG

The Registrar-General of the Corporate Affairs Commission (CAC), Alhaji Garba Abubakar, has revealed that the beneficial ownership register unveiled by the commission in May is the first in Africa.

A statement released yesterday by the CAC said Abubakar made the revelation during a panel session on the implementation of Beneficial Ownership Transparency Principles in Nigeria at the Anti-Corruption for Development Summit in Washington DC, United States.

The international summit was organised by the World Bank and other partners, including the Open Ownership and Returning Assets.

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“As a follow up to the groundbreaking event, a three-day multilateral peer exchange event on practical aspects of Implementing Beneficial Ownership Reforms was also carried out with far-reaching reforms to improve the commission’s operations,” Abubakar said.

He added that the commission planned to roll out sensitisation workshops across the country to inform people about the relevance of the register for company owners.