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CAC Unveils Beneficial Ownership Register To Strengthen Fight Against Corruption

The Corporate Affairs Commission (CAC) has unveiled a Beneficial Ownership Register (BOR) platform in a bid to further strengthen the present administration’s fight against corruption.

The Registrar General of the Corporate Affairs Commission (CAC), Alhaji Garba Abubakar, said at the unveiling of the platform to customers and stakeholders in Abuja that it was in line with President Muhammadu Buhari’s commitment to the Open Government Partnership Initiatives at the 2016 London Anti-Corruption Summit.

Garba Abubakar, who said the BOR will provide a simple, precise, and user-friendly environment for the search and provision of information on persons with significant control (PSC), added that it is accessible in real time via bor.cac.gov.ng.

The CAC scribe used the forum to reveal that the Commission would, in the coming weeks, launch a customer relationship management system (CRM) in line with global best practices.

The Registrar General said the CRM would upscale the Commission’s customer service by affording customers the opportunity to lodge and resolve complaints in record time.

In a presentation by Priscilla Orukpe and Helen Odoma, the BOR developer, Oasis Management Company, describedthe BOR Portal as an automated platform where records of PSC collated by CAC are stored and accessible both to the general public and for government use.

Oasis added that it offers a search function and information on persons with significant control (PSC) in accordance with the international standard of beneficiary ownership data standards (BODS) under the guidance of the World Bank.

Oasis further said the BOR also provides an Enterprise Service Bus (ESB) gateway for data exchange in accordance with BODS in the required format.

They maintained that the service will provide the module for data exchange between CAC and external applications and databases like the Global Beneficiary Ownership Register.

Speaking on its workability, Oasis said the BOR Portal will enable users to find the Person with Significant Control (PSC) of any entity when a search is initiated with either of the following parameters: entity’s name, entity’s number, PSC first name, and PSC surname.

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