{
  "id": 7659313,
  "title": "CAC pushes unified corporate registers to curb illicit finance",
  "url": "https://urgent.news/2026/09/15/cac-pushes-unified-corporate-registers-to-curb-illicit-finance",
  "topic": "world",
  "section": "World",
  "published": "2026-09-15T23:54:04.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/cac-pushes-unified-corporate-registers-to-curb-illicit-finance/"
  },
  "original_language": "en",
  "account": "The Corporate Affairs Commission (CAC) is urging Nigeria to unify and centralise its beneficial ownership registers to combat illicit financial activities, money laundering, and corporate structure abuse. CAC Registrar-General and Chief Executive Hussaini Magaji spoke at a training session for journalists and civil society organisations in Abuja on Tuesday, emphasising the need for an interconnected system to easily identify ultimate owners and controllers of companies. Magaji argued that corporate ownership information should not be fragmented across separate institutional databases, especially when companies operate across various sectors. He stated that Nigeria should strive for a coordinated national framework where the CAC corporate registry serves as the central data backbone. Magaji clarified that this proposal does not infringe upon the legitimate statutory responsibilities of organisations like NEPZA or NEITI but rather aims to connect the dots and ensure transparency and accountability. The CAC already maintains a beneficial ownership register, while entities operating in Free Trade Zones have their information managed by the Nigeria Export Processing Zones Authority. The extractive industries' ownership details are stored within the Nigeria Extractive Industries Transparency Initiative framework. Magaji highlighted that these three systems share the common goal of identifying natural persons behind corporate structures and that the underlying corporate information is largely connected to records in the CAC corporate registry. He urged journalists and civil society organisations to advocate for interoperability, common standards, and improved access to beneficial ownership information while respecting privacy and data protection. The Registrar-General assured journalists that accessing the CAC's beneficial ownership data is free and emphasised the importance of responsible reporting when using this information. The CAC plans to host a Global Conference on Beneficial Ownership in Lagos on November 8, 2026, where around 200 delegates from 43 countries will discuss the progress achieved since the London Anti-Corruption Summit and explore the next steps in enhancing beneficial ownership transparency.",
  "summary": "The Corporate Affairs Commission is calling for the harmonisation of Nigeria’s beneficial ownership registers to curb illicit financial flows and money lau Read More: https://punchng.com/cac-pushes-unified-corporate-registers-to-curb-illicit-finance/",
  "key_points": [
    "CAC urges unified corporate registers to combat illicit finance",
    "Registrar-General Hussaini Magaji emphasizes need for interconnected system",
    "CAC plans Global Conference on Beneficial Ownership in Lagos 2026"
  ],
  "editors_take": "Unifying Nigeria's beneficial ownership registers under a centralised system would enhance transparency and accountability, allowing for easier identification of ultimate owners and controllers of companies and curbing illicit financial activities.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "CAC pushes unified corporate registers to curb illicit finance",
        "url": "https://urgent.news/2026/09/16/cac-pushes-unified-corporate-registers-to-curb-illicit-finance",
        "published": "2026-09-16T00:30:04.000Z"
      }
    ]
  },
  "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."
}