ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Monday, January 25, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Nigeria pledges to expose true owners of businesses

Corporate Affairs Commission (CAC)

Nigeria pledges to expose true owners of businesses

byAgency Report
October 26, 2016
1 min read
ADVERTISEMENT

The Federal Government says it is committed to its policy of exposing the rightful owners of businesses, to encourage transparency, accountability and probity in governance.

Joe Abah, the Director-General, Bureau of Public Service Reforms, BPSR, made this known in an interview with the News Agency of Nigeria on Wednesday in Abuja.

Mr. Abah said that the purpose of the policy was to unravel the owners of businesses registered with the Corporate Affairs Commission, CAC.

“There are instances where ownership of companies hide behind several companies; some of them are offshore.

“Here, you don’t actually know who owns these companies. So, the plan is to have a beneficial ownership register at the CAC, where details of owners of companies will be made transparent.

“The initiative is work in progress but President Muhammadu Buhari is committed to making the beneficial register at the CAC public.”

Mr. Abah further said that the initiative would also make public servants to be committed on the need for open government and transparency.

“Some government officials hide quite a number of complex chains of owners of businesses to perpetrate corruption.

“In a lot of contracts awarded by the government, the real owners may even be civil servants or National Assembly members but have used different names for the registration of the companies.”

RelatedNews

Court dismisses charges against four #EndSARS protesters arrested in Abuja

PROFILE: Ahmadu Umaru Fintiri, Governor, Adamawa State, Nigeria [2019 — ]

PROFILE: Babagana Zulum, Governor, Borno State, Nigeria [2019 –]

PROFILE: Abdullahi Sule, Governor, Nasarawa State, Nigeria [2019 – ]

The director-general advised Nigerians to begin to look inward by making public the real owners of businesses as this would help reduce corruption in the system.

He said that doing this would make things more transparent because most company owners hid behind several companies to operate.

Mr. said that the initiative would also allow for an open register at the CAC where information about owners of companies would be made transparent.

Dangote adbanner 728x90_2 (1)

According to him, the UK has used the process to facilitate transparency in the country. He urged Nigeria to take a clue from them.

(NAN)

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (5)
premiumtimes



PT Mag Campaign AD

Previous Post

$15 million: Ijaw women protest in support of Patience Jonathan

Next Post

Kaffy apologizes to Davido, insists dancers not well treated

Agency Report

Agency Report

More News

Unilever Nigeria Plc

Weak sales stretch Unilever’s loss into second year

January 25, 2021
pexels-photo-315788 (1)

Bitcoin falls 9.30% in a week

January 25, 2021
Union Bank of Nigeria

Union Bank’s principal owner ‘considering sale of 50% stake’

January 23, 2021
JPMorgan

Malabu: Prosecutors want JP Morgan’s document admitted in Italian trial

January 23, 2021
Naira notes used to illustrate market trading

Naira falls against dollar as CBN vows sanctions over remittances

January 22, 2021
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

NSE: Nigerian stocks fall on rate adjustment fears

January 22, 2021
Next Post
Kaffy apologizes to Davido, insists dancers not well treated

Kaffy apologizes to Davido, insists dancers not well treated

Cigarette smoking

COP7: Group urges measures to hold big tobacco liable

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad




Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,606,404 other subscribers.

Advertisement






netherland biz school Advert

Zenith Advert

Heritage Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.