The Registrar-General and Chief Executive Officer (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.

Abubakar made this known in a statement by the Head of Media, CAC, 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 15 years ago after the 9/11 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.

Abubakar used the forum to applaud the contributions of stakeholders towards making it a reality.

Speaking at the event, Dr.Tayo Aduloju, Chief Operating Officer (COO), NESG/ Non-State Actors Co-chair, stressed that Open Government Partnership in Nigeria was aimed at eradicating systemic corruption in the society.

Adolujo commended the CAC Registrar-General 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.

Rafsanjani also used the forum to applaud the unwavering commitment of the CAC boss towards actualizing the Beneficial Ownership Register.

Also speaking, the CEO, Open Government Partnership (OGP), Sanjay Pradhan, described as user-friendly, the Beneficial Ownership Register currently being implemented by the CAC.

Dr. Gloria Ahmed, the National Coordinator of OGP, in her remarks 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.

Officials from the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC), Nigeria Extractive Industries Transparency Initiative (NEITI), among other stakeholders, graced the event which featured practical display on how to conduct online search on the Beneficial Ownership Register (BOR) displayed on the CAC portal.

•CAC Registrar Garba Abubakar

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