CAC, NAICOM partner against money laundering


Abuja, Feb. 2, 2022

The Corporate Affairs Commission (CAC) and the National Insurance Commission (NAICOM) would partner to further boost the fight against money laundering in the country..

The resolution was reached when Mr Thomas Olorundare , Commissioner for Insurance and CEO of NAICOM visited the Registrar General of the CAC, Alhaji Garba Abubakar, on Thursday in Abuja.

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

He said 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.

Responding, Abubakar, said that since 2001 that the commission began implementation of CAMA 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 information. (

Peters Anene, News Editor
Peters Anene, News Editor
Anene Peters is the news editor for Naija247news Media Group. He started his journalism career as an intern on tech and science. He's a graduate of Abia State University with a major in Computer Science and Communications. You can contact him for press events on 0903 927 6505 Email:

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