{
  "id": 7579558,
  "title": "CAC seeks unified ownership register to fight illicit funds",
  "url": "https://urgent.news/2026/09/15/cac-seeks-unified-ownership-register-to-fight-illicit-funds-7579558",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-15T15:52:04.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/cac-seeks-unified-ownership-register-to-fight-illicit-funds/"
  },
  "original_language": "en",
  "account": "The Corporate Affairs Commission (CAC) is urging for a unified and centralized system to manage beneficial ownership registers in Nigeria. This move is aimed at strengthening the fight against illicit financial flows, money laundering, and the misuse of corporate structures. The CAC's Registrar-General, Hussaini Ishaq Magaji, emphasized the need for an interconnected system that would make it easier to identify the individuals who ultimately own or control companies. He stressed that corporate ownership information should not be fragmented across separate institutional databases, especially when companies operate across different sectors. Magaji highlighted that the CAC corporate registry would serve as the central data backbone for this national framework, ensuring uniformity, transparency, and accountability. Currently, different institutions maintain beneficial ownership information in silos, such as the Nigeria Export Processing Zones Authority for entities operating within Free Trade Zones and the Nigeria Extractive Industries Transparency Initiative for the extractive industries. Magaji appealed to journalists and civil society organizations to advocate for interoperability, common standards, and improved access to beneficial ownership information, all while respecting privacy and data protection requirements. He assured that the CAC register is freely accessible to facilitate research and public accountability, and that the success of the register will be measured by its ability to promote transparency and accountability.",
  "summary": "The Corporate Affairs Commission (CAC) is calling for a unified ownership register to combat illicit financial flows and money laundering in Nigeria. Read More: https://punchng.com/cac-seeks-unified-ownership-register-to-fight-illicit-funds/",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "CAC seeks unified ownership register to fight illicit funds",
        "url": "https://urgent.news/2026/09/15/cac-seeks-unified-ownership-register-to-fight-illicit-funds",
        "published": "2026-09-15T15:16:04.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}