the Corporate Affairs Commission (CAC) announced the launch of a Beneficial Ownership Register (BOR) platform, which they said would be useful in strengthening the Buhari administration’s fight against corruption.
This is Office has partnered on Friday evening after the CAC Registrar General Alhaji Garba Abubakar unveiled the platform in Abuja.
He explained that the platform will make it easier to find information on persons with significant control (PSC).
About the platform: The BOR developer, Oasis Management Company, describes the portal as an automated platform where PSC records collected by the CAC are stored and accessible 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.
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- “BOR also provides an Enterprise Service Bus (ESB) gateway for data exchange in accordance with BODS in the required format. The BOR Portal enables users to search for the Person with Significant Control (PSC) of any entity if the search is initiated with any of the following parameters: entity name, entity number, PSC first name, and PSC surname, “ they added.
Expected benefits: According to CAC Registrar General Alhaji Garba Abubakar, the opening of the platform is in line with the commitment of President Muhammadu Buhari to fight corruption and ensure transparency.
- “The BOR will provide a simple, accurate, and user-friendly environment for finding and providing information on persons with significant control (PSC), in addition to being accessible in real time through http://bor.cac.gov.ng,“ he added.
Upcoming launches: Speaking further, Abubakar said CAC will also launch a customer relationship management system (CRM) in line with global best practices. The CRM is expected to enhance the Commission’s customer service by allowing customers to raise and resolve complaints on time.