The Registrar-General/CEO of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, SAN, today inaugurated the National Working Group on Beneficial Ownership Information, describing it as “the engine of reforms for economic growth.”
Inaugurating the group with three core mandates, the RG said beneficial ownership transparency goes beyond regulatory obligation.
“It is the cornerstone of good governance protecting the economy from abuse, strengthening investor confidence, and enhancing Nigeria’s reputation within the global financial system,” Magaji stated.
He charged members to bring their expertise, creativity, and commitment to bear in building a framework that would set a benchmark for others to follow.
Responding on behalf of members, Maimunat Hamu Modi, Assistant Director/Head, Status Desk, pledged the group’s commitment to work harmoniously to deliver on its mandate.
In another development, the Corporate Affairs Commission (CAC) has unveiled plans to host an International Conference on Beneficial Ownership Information in Nigeria this November.
The Registrar-General/CEO, CAC, Hussaini Ishaq Magaji, SAN, disclosed this today while inaugurating the Organizing Committee for the conference.
Magaji said the conference will promote transparency, accountability, and integrity in financial and corporate systems worldwide.
He described it as “a commitment to advancing beneficial ownership transparency as a cornerstone in the fight against corruption, illicit financial flows, and the concealment of assets.”
According to the RG, the event will assemble experts, policymakers, regulators, and practitioners from across the globe to create a platform for peer learning, mutual review, and the exchange of best practices.
He charged committee members to deploy their expertise, creativity, and dedication to deliver a conference that is “not only memorable in execution but transformative in impact.”
Membership of the two Committees are drawn from CAC, NFIU, EFCC, NEPZA, ICPC, ONSA, NDLEA, OGZA, NPF, and the African Development Bank (ADB), among others.