the Corporate Affairs Commission (CAC) announced the launch of a Beneficial Ownership Registry (BOR) platform, which they said would be beneficial in strengthening the Buhari administration’s fight against corruption.
This was Announced on Friday night after CAC Registrar General Alhaji Garba Abubakar unveiled the platform in Abuja.
He explained that the platform will facilitate the search for information on people with significant control (PSC).
About the platform: The BOR’s developer, Oasis Management Company, described the portal as an automated platform where PSC records collected by CAC are stored and accessible for both the general public and government use.
Oasis added that it offers a search function and information on persons with significant control (PSC) according to the international standard of beneficial ownership data standards (BODS) under the guidance of the World Bank.
- “BOR also provides an Enterprise Service Bus (ESB) gateway for data exchange in accordance with BODS in the required format. The BOR Portal will allow users to find the Person with Significant Control (PSC) of any entity when a search is initiated with any of the following parameters: entity name, entity number, PSC name, and last name of the entity. psc. they added.
Expected benefits: According to CAC Registrar General Alhaji Garba Abubakar, the launch of the platform was in line with President Muhammadu Buhari’s commitment to fight corruption and ensure transparency.
- “The BOR will provide a simple, accurate and easy-to-use environment for the search and provision of information on persons with significant control (PSC), added that it is accessible in real time through http://bor.cac.gov.ng,” added.
Future releases: Speaking further, Abubakar said that the CAC would also launch a customer relationship management (CRM) system in line with global best practices. The CRM is expected to improve the Commission’s customer service by allowing customers to file and resolve complaints in record time.
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