CAMA Law Will Help Government Fight Corruption —Buhari

- BREAKING: Buhari Bows to Pressure, Sacks Service Chiefs, Appoints New Hands - January 26, 2021
- Enugu Red Cross Trains 20 Volunteers on COVID-19 Risk Communication - January 26, 2021
- Yello Fever: Red Cross Trains 140 on Risk Communication - January 26, 2021
President Muhammadu Buhari has said that the Companies and Allied Matters Act, 2020 recently passed into law in Nigeria will aid transparency and corporate accountability in the fight against corruption.
The CAMA bill which was signed into law by President Buhari on August 7 was opposed by religious leaders.
The law requires religious and charity organisations to be regulated by the Registrar-General of Corporate Affair Commission and a supervising minister.
Clarifying the purpose of the law, President Buhari while speaking at the Open Government Partnership 2020 virtual leaders’ summit on the sidelines of the 75 Session of the United Nations General Assembly, said the law will enhance transparency and corporate accountability in the fight against corruption.
He said, ”Since the inception of our administration in 2015, the government has been committed to changing international and domestic perceptions regarding Nigeria’s commitment to fight corruption and foster good governance.
”We focused on the task of dealing head-on with this destructive monster, which led to us joining the Open Government Partnership and making reform commitments such as to establish a public central register of beneficial owners of corporate entities.
”Since then, 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.
”Being an OGP member-country has helped Nigeria learn from other countries tackling similar challenges, and to build a coalition to support these reforms across the private sector and civil society. It has also aided our journey towards building citizens’ trust in government.”
This post was written by Nwolu Obiajulu.
The views expressed here belong to the author and do not necessarily reflect our views and opinions.
Leave a Reply
#Popular in this month
Most Popular
-
1Nigeria: Underage Voters are Registered Because Registration Officers’ Lives are Threatened – INEC
-
2Nigerian Government Approves Phased reopening of Schools
-
3Sack Service Chiefs Now, Norther Elders ask Buhari
-
4CBN’s Targeted Credit Facility for Covid-19 – Fraud or Incompetence?
-
5Nigeria Secures $288.5m African Development Bank Loan
-
6South Africa: Girl School’s Naked Cultural Performance Sparks Outrage
-
7Security: Family and Friends Mourn as Father of Two is Killed by a Stray Bullet in Lagos
Adsterra
More News...
-
Veteran Nollywood Actor, Dan Nkoloagu is Dead
About Latest Posts Nwolu ObiajuluObiajulu... read more »
-
FG Grants Plateau Govt NIN registration Licence
About Latest Posts Nwolu ObiajuluObiajulu... read more »
-
21 Million Subscribers Yet to Obtain NIN – Telcos...
About Latest Posts Nwolu ObiajuluObiajulu... read more »
-
FG Extends Deadline for NIN
About Latest Posts Nwolu ObiajuluObiajulu... read more »
-
43 Million NINs Awaiting NIMC Verification
About Latest Posts Nwolu ObiajuluObiajulu... read more »
-
Ekiti Govt. Includes N550m Budget For drones Used ...
About Latest Posts Nwolu ObiajuluObiajulu... read more »
-
Again, Instagram Suspends Tunde Ednut’s Account
About Latest Posts Nwolu ObiajuluObiajulu... read more »
Your comment?