Legal alerts · 12 May 2026
The beneficial ownership register: who really has to be named
Nigeria's persons-with-significant-control regime is now a live filing obligation rather than a policy aspiration, and it is being enforced through the striking-off exercise.
Oluwashina O. Olagbende · 4 min read
The position
Nigerian companies must disclose their persons with significant control to the Corporate Affairs Commission. The obligation has existed since CAMA 2020, but enforcement has sharpened, and outstanding beneficial ownership information now appears among the defaults cited in the Commission's striking-off notices.
The disclosure is about control, not only shareholding. A person who holds shares through a nominee, who can appoint or remove a majority of directors, or who exercises significant influence over the company may be disclosable even if their name appears nowhere on the share register.
Groups with layered holding structures should map the chain once, properly, and file consistently across every entity. Inconsistent filings between related companies are more damaging in diligence than a late one.
Where a shareholder is reluctant to be named, the answer is legal advice on the scope of the obligation — not a filing that leaves the register incomplete.
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