As the fight against corruption continues, President of Nigeria, Muhammadu Buhari has stated that the Companies and Allied Matters Act, 2020 (CAMA) will enhance transparency and corporate accountability to that effect.
He disclosed this at the Open Government Partnership (OGP) 2020 Virtual Leaders’ Summit which held in New York, on the sidelines of the 75th Session of the United Nations General Assembly (UNGA75).
In his video message presented, President Buhari noted that his administration since its inception in 2015 has been committed to changing the international and domestic perceptions regarding Nigeria’s commitment to fighting corruption.
According to him, Nigeria is focused on the task of dealing with corruption which prompted the country to join the Open Government Partnership whereby Nigeria has made reform commitments such as the establishment of a public central register of beneficial owners of corporate entities.
His words: “We have made significant progress in implementing tougher anti-corruption measures, including my recent assent to the Companies and Allied Matters Act, 2020. The Act provides a legal framework for the implementation of Beneficial Ownership Information Disclosure in Nigeria”.
Rounding up, he stressed that Nigeria has also learned from other countries fighting against corruption by virtue of being an OGP member country. In fact, the membership has helped the country build a coalition to support these reforms across the private sector and civil society; in addition, it has also aided Nigeria’s journey towards building the citizens’ trust in the government.