CAC, CCB move to investigate corrupt registered Nigerian companies
The Corporate Affairs Commission (CAC) has granted Code of Conduct Bureau (CCB) to have access to its database to investigate money laundering and other corruption initiatives of registered companies in Nigeria.
The Registrar General/CEO, CAC, Alhaji Garba Abubakar, granted the access when he received the CCB Chairman, Professor Muhammad Isah, on a courtesy visit to the Commission on Friday.
Abubakar explained that in view of CAC’s strategic collaboration with other anti-corruption agencies, including the EFCC, ICPC and INTERPOL among others, the commission established a dedicated unit to expeditiously handle requests for information and other services gratis.
According to him, any member of the public can conduct a first-level check on the status of any registered company on the CAC Website via the Public Search window at no cost.
While speaking on the introduction of Beneficial Ownership Disclosure or Person with Significant Control, Abubakar stated that the disclosure would soon be extended to open data format to enable investigators to extract information on any registered company and query the database.
This, according to him, will enable them to detect whether a particular name had featured in different registered companies.
He also revealed that the Commission was planning to integrate with the National Identity Management Commission’s (NIMC) database to enable it to validate the identity of anyone applying to register a company in order to eliminate incidences of submitting cloned copies of means of identification to the CAC.
The CAC Scribe, therefore, reiterated his commitment to ensure continued synergy and collaboration with the CCB and other Anti Corruption bodies in a bid to strengthen the anti-money laundering and anti-corruption initiatives of the Present Administration.
Speaking earlier, the Chairman, Code of Conduct Bureau, Prof. Muhammad Isa, expressed satisfaction with the support and cooperation the CCB had received from the Registrar General since his assumption of Office.
Isa who stressed that the CAC and CCB had a lot to do in order to enhance the economic well being of the country further noted with delight that Alhaji Garba Abubakar had ensured what he called expeditious and effective treatment of all requests from the CCB.
The CCB Chairman said in view of emerging trends in Company Law, there was need for more robust collaboration between the two agencies to unravel the identities of those perpetrating various economic crimes in the country.
While speaking on the mandate of the CCB which was established under Section 153 of the 1999 Constitution, Professor Isa said it was equally empowered under Part 1 of the 3rd Schedule to enforce Code of Conduct for Public Officers enshrined under Part 1 of the 5th Schedule of the Constitution of the Federal Republic.
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