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CAC to host global conference on beneficial ownership, asset recovery
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Daily Nigerian
Advertisement Advertisement AdvertisementThe Corporate Affairs Commission, CAC, is set to convene a global conference on beneficial ownership transparency and asset recovery as part of efforts to strengthen international cooperation against illicit financial flows, anonymous corporate structures and the concealment of illicit wealth.
The commission said beneficial ownership transparency had emerged as a recognised first line of defence against the misuse of companies and other legal entities to conceal ownership, move illicit funds and hide assets.
The conference will also examine the relationship between beneficial ownership transparency and asset recovery, with participants expected to explore how stronger disclosure systems can support the identification, tracing and recovery of illicit assets.
Through the conference, the CAC aims to reinforce Nigeria’s commitment to corporate transparency, accountability and international cooperation in the fight against illicit financial flows.
The event is expected to strengthen Nigeria’s role in advancing beneficial ownership reforms and deepen global, continental and national efforts to prevent hidden ownership and recover assets linked to illicit financial activities.