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Alhaji Garba Abubakar, the Registrar-General and Chief Executive Officer of CAC, shared this significant development during a training event held in Lagos, which focused on utilizing the beneficial ownership register.
He further clarified that the delisted companies can potentially be reinstated after settling their outstanding debts and obtaining a court order, as mandated by the law.
By doing so, they can contribute significantly to the ongoing efforts in fighting financial crimes and ensuring transparency in business transactions.
He urged professionals to exercise due diligence when dealing with clients, emphasizing the importance of understanding and adhering to the legal requirements related to financial transactions.