Naicom backs CAC in fight against money laundering

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By Favour Nnabugwu




n the fight against money laundering in the country, the National Insurance Commission, Naicom has throw it’s full weight behind the Corporate Affairs Commission (CAC) in making sure that beneficial Ownership Registrar, BOP will be made accessible to the public.

The Commissioner for Insurance and CEO of NAICOM , Mr Olorundare , Sunday Thomas during his courtesy visit to he Registrar-General of the Corporate Affairs Commission, CAC,, Alhaji Garba Abubakar, in Abuja.

Thimas said access to the CAC’s database, particularly its Beneficial Ownership Register (BOR) was fundamental to enriching its operations.

He emphasised that accessibility of the commission’s BOR database would also help in reaching its targeted goal.

The NAICOM boss, however, applauded the commission’s reforms and prayed for a stronger working relationship with the CAC.

While welcoming the Naicom team,, Abubakar said that since 2021 that the commission began the implementation of CAMA Act, 2020, it had made available details of Persons with Significant Control (PSC) in all newly registered companies.

Abubakar said it was challenging for the CAC to capture PSCs for all the nearly five million registered entities, as some of them were legacy companies. He assured that in the near future, the BOR would be a standalone register in open data format to provide access for the download of informatio


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