Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • NiMet, C-WINS In Partnership To Advance Climate Action
    • NiMet, Ignitia Hold Talks On Implementation Of MoU
    • Global Governance Initiative: China To Partner Nigeria, Africa To Build Fairer, More Inclusive Systems
    • NiMet, Adamawa Varsity Form Partnership To Strengthen Timely Delivery Of Early Warnings On Climate
    • NEMA Participates In National Crisis Response Simulation Exercise Code Named, “EX RAPID RESPONSE 2”
    • OXFAM, CISLAC Seek Stronger Collaboration On Regional Integration In Meeting With ECOWAS President
    • EFCC Chairman, Olukoyede Tasks South-South Youths To Resist Internet Fraud, Financial Crimes
    • EFCC Arraigns Man For N5m Land Fraud In Maiduguri
    Facebook X (Twitter) Instagram YouTube
    HumsimediaHumsimedia
    • Home
    • News
      • News Analysis
      • Politics
      • Environment
      • Energy
      • Security
      • Defence
    • Entertainment
    • Business
      • Economy
    • Health
    • Interview
    • Lifestyle
    • Global News
    HumsimediaHumsimedia
    Home»Economy»Four Key Terms In CAC’s Beneficial Ownership Register
    Economy

    Four Key Terms In CAC’s Beneficial Ownership Register

    HumsiBy HumsiMay 28, 2023Updated:May 28, 2023No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    CAC’s Registrar-General, Garba Abubakar

    By Miriam Humbe

    Between Wednesday and Thursday in the week, Registrar-General of the Corporate Affairs Commission, Garba Abubakar unveiled the Beneficial Ownership Register to the public.

    The gathering brought together stakeholders in the sector including the Nigerian Bar Association, (NBA), sister Government Agencies such as NEITI and foreign partners such as the Open Ownership, United Kingdom.

    Other stakeholders represented African nations such as Zambia.

    Zambia’s Wilson Banda told the gathering: “We’re here to learn. We have a BOR in Zambia but it’s not as advanced as the one in Nigeria”.

    Also speaking exclusively to Humsimedia, Executive Director of UK based Open Ownership, Tom Townsend said that Nigeria’s Open Register of Beneficial Owners of Companies and Entities was by far more advanced than that of the UK.

    The Registrar-General said that the Beneficial Ownership Register was aimed to stop Illicit-financial flows and terrorism financing through companies via lifting the corporate veil on company Directors and their cohorts.


    CAC’s Registrar-General, Garba Abubakar And Guests

    The R-G said that the Beneficial Ownership Register was meant to ensure transparency and assist in the anti-corruption campaign of government.

    Persons using the services of the Corporate Affairs Commission directly or online may encounter certain terms relating to the Beneficial Ownership Register.

    Here’s a definition of key terms in the Beneficial Ownership Register as availed by the Corporate Affairs Commission:

    1. Open Government Partnership (OGP) is a multi-stakeholder initiative focused on improving government transparency, ensuring opportunities for citizens’ participation in public matters and strengthening mechanisms for public accountability.

    2. As reported by the UN Convention Against Corruption (UNCAC).

    3. FATF is the global money laundering and terrorism financing watchdog. It leads global action to tackle money laundering, terrorist and proliferation financing.

    4. Open Government is a non-profit organisation which supports countries to generate data on company ownership that complies with international standards and meets the needs of data users across government, civil society and the private sector.

    Beneficial Ownership Register Corporate Affairs Commission
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Humsi
    • Website

    Related Posts

    China’s Modernization And 75 Years Poverty Reduction Nigeria May Adapt For Massive Devt

    September 12, 2025

    CAC To Deregister Companies That Failed To Comply With 2020 CAMA Act Within 90 Days

    July 29, 2025

    EFCC Arraigns Two Firms For Alleged Illegal Capital Market Operations In Lagos

    June 18, 2025
    Leave A Reply Cancel Reply

    Recent Posts
    • NiMet, C-WINS In Partnership To Advance Climate Action
    • NiMet, Ignitia Hold Talks On Implementation Of MoU
    • Global Governance Initiative: China To Partner Nigeria, Africa To Build Fairer, More Inclusive Systems
    • NiMet, Adamawa Varsity Form Partnership To Strengthen Timely Delivery Of Early Warnings On Climate
    • NEMA Participates In National Crisis Response Simulation Exercise Code Named, “EX RAPID RESPONSE 2”
    Facebook X (Twitter) Instagram Pinterest
    © 2025 Humsimedia. Designed by Humsi Media.

    Type above and press Enter to search. Press Esc to cancel.

    • read-passage-quinceanerathe-next-thing-i-knewthe-alarm
    • advertisement-achieve-purposeby-indicating-everyone
    • detroit-techno-singer-important-musician-recording
    • adolf-hitler-blaming-germanys-prewar-problems-jewish
    • read-excerpt-dr-martin-luther-kings-letter-birmingham
    • word-contains-prefix
    • read-excerpt-occurrence-owl-creek-bridgeas-pushes-open
    • actocepttake-receiveexleave-outwhich-sentence-uses
    • one-theme-hamlet-death-conquers-everyone-statement
    • sentence-uses-aloud-correctlykrista-aloud-eat-food
    • read-excerpt-president-roosevelts-state-theunion
    • true-falseunlike-podcast-webinars-intended-interactive
    • read-capulets-lines-directed-nurse-act-ivscene-iv-romeo
    • read-first-three-paragraphs-two-kindsmy-mother-believed
    • read-excerpt-oval-portraitby-edgar-allan-poethe-rays
    • read-excerpt-part-3-odyssey-byhomeri-made-straight-ship
    • statement-describes-besti-reveal-othersprivate
    • following-correct-concerning-struckbyswinging-object
    • best-example-objective-summary-theme-truth-hard-discern
    • jonas-salk-well-known-early-1950s-hestarred-popular