ABUJA — The Corporate Affairs Commission (CAC) has trained journalists and Civil Society Organisations (CSOs) on the use of Nigeria’s Beneficial Ownership Register (BOR), describing the platform as a vital tool for promoting transparency, accountability and investigative journalism.
The one-day capacity-building training, held by the Commission, brought together journalists and civil society actors to deepen their understanding of the register and how it can be used to trace ownership and control of corporate entities.
Declaring the training open, the Registrar-General and Chief Executive Officer of the CAC, Hussaini Ishaq Magaji, SAN, described journalists and CSOs as critical partners in Nigeria’s transparency and accountability ecosystem.
Magaji explained that although the term “Beneficial Owner” is widely used internationally, Nigeria’s legal framework adopts the term “Person with Significant Control (PSC)” under the Persons with Significant Control Regulations, 2022, to identify the actual natural person behind a corporate entity.
According to him, Nigeria’s Beneficial Ownership Register has emerged as a global reference point, with several countries undertaking peer reviews and knowledge exchanges with Nigeria on how to effectively operationalise beneficial ownership transparency.
However, the CAC boss expressed concern over the fragmentation of beneficial ownership information in the country.
He noted that three separate registers currently exist in Nigeria — the CAC register, the NEPZA register for Free Trade Zones and the NEITI register for the extractive sector — despite their common objective of identifying who owns, controls and benefits from corporate entities.
Magaji therefore called for a national conversation on the harmonisation and interoperability of the different registers to create a stronger and interconnected transparency architecture.
Addressing journalists specifically, the Registrar-General described the Beneficial Ownership Register as “a tool for investigative journalism,” stressing that it could assist reporters in uncovering complex ownership structures behind companies, procurement processes and business transactions.
He disclosed that anti-corruption and law-enforcement agencies, including the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC) and National Drug Law Enforcement Agency (NDLEA), have already utilised the register in their investigations.
Magaji urged journalists and other users to make effective use of the platform, stressing that access to the register through the CAC website is free.
He, however, encouraged users to verify information obtained from the register and report responsibly.
The CAC Registrar-General also announced that the Commission will host a Global Conference on Beneficial Ownership in Lagos on November 8, 2026.
The conference is expected to attract about 200 delegates from 43 countries, coming ten years after Nigeria’s commitment to beneficial ownership transparency at the London Anti-Corruption Summit.
Magaji charged participants at the training to take the knowledge gained beyond the training room and contribute to making transparency a culture of doing business in Nigeria.
The training featured paper presentations and panel discussion sessions focused on beneficial ownership transparency, access to corporate ownership information and the role of journalists and civil society organisations in strengthening accountability.
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