Publications

Nigeria Country Report: An Assessment of Nigeria’s Beneficial Ownership Transparency Legal Framework

Book Review: An Assessment of Nigeria’s Beneficial Ownership Transparency Legal framework

By Lovelyn Agbor-Gabriel and Abubakar Jimoh

In order to deepen awareness and understanding of state and non-state actors on outstanding shortcomings of Nigerian beneficial ownership transparency laws and practice, the Civil Society Legislative Advocacy Centre (CISLAC), in collaboration with Transparency International, has engaged a critical study into country’s commitment towards beneficial ownership information and regulation.

The 51-page published report titled “Nigeria country Report: An Assessment of Nigeria’s Beneficial Ownership Transparency Legal Framework” provides a detailed account of various limitations in the definition of beneficial ownership attributed to Nigerian anti-money laundering and Company Law that respectively defines beneficial ownership, but not covering control through other means in addition to legal ownership and issues affecting beneficial ownership of private companies.

In page 4, the report reveals country performance as the worst in the area of accessing beneficial ownership information. “There are no legal requirements […]