The Corporate Affairs Commission CAC and the National Insurance Commission NAICOM will partner to boost the fight against money laundering.
A statement by the Head, Media of the Corporate Affairs Commission CAC, Rasheed Mahe said the resolution was reached during a courtesy call to the Commission by NAICOM.
It notes that the Commissioner for Insurance and CEO of the NAICOM Thomas Olorundare Sunday, says access to the CAC’s database, particularly its Beneficial Ownership Register, will be fundamental to enriching its operations.
The NAICOM scribe therefore applauded the Commission’s reform initiatives and prayed for a stronger working relationship with the CAC.
Responding, the Registrar General and CEO of the CAC, Alhaji Garba Abubakar, maintained that since 2001, when the Commission began implementation of CAMA 2020, it has made available details of persons with significant control (PSC) in all newly registered companies.
While addressing some of the concerns of the NAICOM boss, the RG emphasized that it was challenging for the CAC to capture PSCs for all the nearly 5 million registered entities, as some of them were legacy companies.
In the near future, Garba Abubakar, however added that the BOR would be a standalone register in open data format, providing access for the download of information.
AUWALU MUHAMMED, KADUNA