Wednesday, 30 November 2022 05:51

CAC opens portal to enable search for who owns what in Nigerian companies

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Corporate Affairs Commission has unveiled a Beneficial Ownership Register platform.

This was made public on Friday night, following the platform’s unveiling in Abuja by the CAC Registrar General, Garba Abubakar.

He said this will make it simple to look up information on people with significant control.

The CAC Registrar said, “The portal is an automated platform where PSC records compiled by CAC are saved and made available for use by the general public as well as the government, according to Oasis Management Company, the company that developed the BOR.”

According to him, the worldwide standard of beneficiary ownership data standards, which is governed by the World Bank, provides a search feature and details on persons with significant control.

“BOR also provides an Enterprise Service Bus gateway for data exchange in accordance with BODS in the required format. The BOR Portal will enable users to find the Person with Significant Control of any entity when a search is initiated with either of the following parameters: entity’s name, entity’s number, PSC first name, and PSC surname,” he explained.

Abubakar noted that the unveiling of the platform was in line with President Muhammadu Buhari’s commitment to fighting corruption and ensuring transparency.

 

Punch