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# Nigeria — Beneficial Ownership and Corporate Transparency | Financial Integrity Monitor

Nigeria (NG) · Module Detail

# Nigeria: Beneficial Ownership and Corporate Transparency

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#### Beneficial Ownership and Corporate Transparency

Continue reading Globally, the EU AML Package sets the structural direction for beneficial-ownership supervision: the AML Regulation (Reg (EU) 2024/1624) applies directly across Member States, the sixth AML Directive requires per-state transposition, and the AMLA Regulation (Reg (EU) 2024/1620) establishes the Anti-Money Laundering Authority to shift supervision of cross-border obliged entities from purely national authorities toward a hybrid EU-level regime. Nigeria sits outside this perimeter entirely; the directly relevant development in Nigeria's own beneficial-ownership architecture this cycle is domestic. The Corporate Affairs Commission struck off more than 500,000 entities from Nigeria's Beneficial Ownership Register for failing to update beneficial-owner information, reported 8 October 2026. CAC is simultaneously pressing to harmonise three parallel beneficial-ownership registers, held by CAC itself, the Nigeria Export Processing Zones Authority and the Nigeria Extractive Industries Transparency Initiative, into a single linked database, on the basis that the current fragmentation across corporate, free-trade-zone and extractives registers creates blind spots for illicit-flow detection. This combination, large-scale strike-off enforcement for non-disclosure plus a structural push toward register unification, points toward a strengthening, rather than weakening, trajectory for Nigeria's beneficial-ownership transparency regime, independent of the EU architecture described above, which carries no direct supervisory reach into Nigeria.

#### Outlook

The unified beneficial-ownership database CAC is pursuing is framed as a multi-year undertaking with no confirmed implementation date. The nearer-term signal to track is whether CAC's strike-off enforcement pattern, evidenced this cycle at a scale of over 500,000 entities, continues or intensifies, and whether EU Member States or international partners engage with Nigeria's register-harmonisation effort as a point of comparison against the hybrid EU-level supervisory architecture taking shape under AMLA.