Corporate Affairs Commission says it is set to reveal the identity of the real owners behind Nigerian companies.
CAC Registrar-General, Hussaini Ishaq Magaji, made this known at an engagement with journalists on Tuesday in Abuja.
Magaji said there are legal owners of Nigerian companies and real individuals behind the corporate structures.
He said there is an urgent need for the public to know the real human beings behind corporate entities under its beneficial ownership disclosure framework.
The CAC boss added that the move would help track illicit financial inflows within the country’s corporate ecosystem.
Magaji said, “In simple terms, there may be a legal owner on paper and the real person behind the corporate structure.
“We want to know the human being behind the corporate structure. And that is why beneficial ownership disclosure is not merely a bureaucratic requirement.”
