The Corporate Affairs Commission (CAC) has revealed plans to expose the real owners of Nigerian companies.
The Registrar-General of the CAC, Hussaini Ishaq Magaji, made the disclosure during an interaction with journalists on Tuesday in Abuja.
According to him, there are legal owners of Nigerian companies and real individuals behind the corporate structure.
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.
He added that the move would help track illicit financial inflows within the country’s corporate ecosystem.
“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,” Magaji said.