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We Enacted CAMA To Help In Fight Against Corruption, Buhari Clarifies

President Muhammadu Buhari has explained that the Companies and Allied Matters Act, 2020 (CAMA) was enacted to make the anti-corruption campaign stronger, enhancing transparency and corporate accountability.
Buhari gave the clarification, yesterday, in a video message to the Open Government Partnership (OGP) 2020 Virtual Leaders’ Summit on the sidelines of the 75th Session of the United Nations General Assembly (UNGA75) in New York, United States.
It would be recalled that there had been outcries from various quarters on some specific provisions of the Act, especially from religious bodies and some non-government organisations.
However, in a statement issued by his Special Adviser on Media and Publicity, Mr Femi Adesina, Buhari highlighted the administration’s journey in anti-corruption fight, pointing out that signing the CAMA into law was one of the milestones in the crusade.
“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.
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