The Corporate Affairs Commission (CAC) has renewed calls for the creation of a unified national register for beneficial ownership, describing it as a critical step towards enhancing corporate transparency and strengthening Nigeria’s anti-corruption framework.
The call was made by the Registrar-General and Chief Executive Officer of the Commission during the Anti-Corruption Day observance, organised as part of activities marking the CAC’s 35th anniversary in Abuja.
He explained that the existence of multiple beneficial ownership registers across different sectors weakens regulatory oversight and creates gaps that can be exploited. According to him, “At the moment, we operate a fragmented system where certain sectors maintain separate beneficial ownership registers… This situation creates duplication, inconsistencies, and regulatory loopholes.”
The Registrar-General stressed that a centralised system would improve coordination among regulatory bodies and reinforce the integrity of Nigeria’s corporate governance structure.
Also speaking at the event, the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr Musa Aliyu, highlighted the importance of the CAC in advancing transparency and supporting sustainable national development.
Represented by the Director of Public Enlightenment and Education, Mr Demola Bakare, the ICPC Chairman noted that international experience shows a strong link between transparent institutions and long-term economic growth. He stated, “Countries that grow sustainably are those that deliberately build systems where rules are clear, information is accessible, institutions are accountable, and economic actors operate in the open.”
Bakare further described the CAC as a key pillar in promoting corporate accountability and boosting investor confidence, noting that “By regulating company incorporation, disclosure, and compliance, the CAC directly influences the integrity of Nigeria’s business environment.”
