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CAC has launched the Beneficial Ownership Register (BOR) platform to increase transparency

A platform called the Beneficial Ownership Register (BOR) was made public by the Corporate Affairs Commission (CAC), who said it would help the Buhari administration’s anti-corruption efforts.

This was made public on Friday night, following the platform’s unveiling in Abuja by CAC Registrar General Alhaji Garba Abubakar.

The platform, he said, will make it simple to look up information on people with significant control.

The platform’s details: The portal is an automated platform where PSC records compiled by CAC are saved and made available for use by the general public as well as the government, according to Oasis Management Company, the company that developed the BOR.

According to the worldwide standard of beneficiary ownership data standards (BODS), which is governed by the World Bank, Oasis said it provides a search feature and details on persons with significant control (PSC).

“BOR also provides an Enterprise Service Bus (ESB) gateway for data exchange in accordance with BODS in the required format. The BOR Portal will enable users to find the Person with Significant Control (PSC) of any entity when a search is initiated with either of the following parameters: entity’s name, entity’s number, PSC first name, and PSC surname,” they added.

According to the CAC Registrar General Alhaji Garba Abubakar, the unveiling of the platform was in line with President Muhammadu Buhari’s commitment to fighting corruption and ensuring transparency.

“The BOR will provide a simple, precise, and user-friendly environment for the search and provision of information on persons with significant control (PSC), added that it is accessible in real-time via https://bor.cac.gov.ng/home

Abubakar continued by stating that the CAC would also introduce a customer relationship management system (CRM) that adhered to international best practices. By enabling customers to file and have their complaints resolved quickly, the CRM is anticipated to improve the Commission’s customer service.

Written by Newsway

NewsWay reporters are Media employees of the newsway.com.ng vested with the responsibilities of getting informative data from verifiable sources and publishing same undistorted on behalf of the NEWS WAY INFO-TECH which is a parent company that birthed the NewsWay blog.

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