By Abubakar Jimoh
The Civil Society Legislative Advocacy Centre (CISLAC) has hitherto been involved in series of interventions on Beneficial Ownership disclosure with specific focus on the extractive sector as a means to promoting Transparency and Accountability, curbing Illicit Financial Flows and promotion of tax transparency. At a Global Forum for Asset Recovery (GFAR) held recently in Washington, USA, the Executive Director of CISLAC made some disclosures on Nigeria’s progress in Beneficial Ownership transparency.
There are indications that beneficial owners hide behind legal person members of a company in the award of contracts without being identified in Nigeria.
This disclosure was made by the Executive Director, Civil Society Legislative Advocacy Centre (CISLAC), Auwal Ibrahim Musa (Rafsanjani) at Global Forum for Asset Recovery (GFAR) held in Washington, USA.
The Executive Director, who was also a Nigerian delegate at the Forum, bemoaned absence of legal requirement for Nigerian companies to maintain a register of […]