The Registrar General/CEO of the Corporate Affairs Commission (CAC), Alhaji Garba Abubakar has expressed optimism that effective collaboration with tax authorities particularly the joint tax board JTB has huge potential to boost Government revenue as well as reduce corruption in the society.
Alhaji Garba Abubakar stated this in a statement released by the Head Media of the commission, Rasheed Mahe at a Multi- Stakeholder Consultation on Nigeria’s Beneficial Ownership Register held in Abuja.
The Registrar General recalled that the beneficial ownership idea was conceived fifteen years ago after the 911 attack in the US with a view to unraveling the financiers of terrorism and other related crimes .
He therefore noted with delight the signing of CAMA 2020 into law, thereby giving impetus to the concept of beneficial ownership in Nigeria.
Garba Abubakar used the forum to applaud the contribution of stakeholders towards making it a reality.
Speaking at the event, Dr.Tayo Aduloju COO, NESG/ Non-State Actors Co-chair stressed that Open Government Partnership Nigeria was aimed at eradicating systemic corruption in the society.
Tayo Adolujo commended the Registrar General of the CAC Alhaji Garba Abubakar for what he called his commitment towards instituting the Beneficial Ownership Register.
The Executive Secretary Civil Society Legislative Advocacy Center (CISLAC) Auwal Ramsanjani stated that the Beneficial Ownership Disclosure had huge potential in ensuring sanity in the system.
Auwal Rafsanjani also used the forum to applaud the unwavering commitment of the CAC Scribe Alhaji Garba Abubakar towards actualizing the beneficial ownership register.
Also speaking the CEO, of Open Government Partnership (OGP), Sanjay Pradhan described as user-friendly, the Beneficial Ownership Register currently implemented by the CAC.
Dr. Gloria Ahmed, the National Coordinator OGP, in her remark at the event said the CAC’s Beneficial Ownership Register was a wonderful initiative that would immeasurably aid the present Administration’s fight against corruption and therefore commended the Commission for the giant stride.
CAC News reports that officials from the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC ), and Nigeria Extractive Industries Transparency Initiative (NEITI) among other stakeholders graced the event while there was a Practical display on how to conduct an online search on the Beneficial Ownership Register (BOR) displayed on the CAC portal.
