(CISLAC) CALL ON FG ACTION ON CORPORATE AND ALLIED MATTER ACT.

Auwal Ibrahim Musa, Executive Director. Civil Society Legislative Advocacy Center. Has call for presidential action on corporate and allied matters act (repeal and reenactment) Bill 2017.

Ibrahim Musa, stated this at the press briefing in Abuja,while we are excited with the comment of the present administration to wage war against corruption.

We are however, concerned over the inability of the administration to efficiently fulfill its promises on ati-corruption.

“This inefficiency is largely triggered by the delayed and assent in the enabling legal framework”

He noted that, failure of Presidential Muhammadu Buhari to assent the companies and allied matters Act (Repeal and Re-enacted) Bill which was transmitted to his office on the 27th, of may 2019. After it was passed by the 8th assembly on the 14 of may 2109.

The Bill contains provisions that enhances the ability of ati-corruption agencies to detect and stop corruption, identify and companies involved in corruption he said.

He noted that, the process of developing the National Register of Beneficial Owners of Companies operating within our jurisdiction is now hinged on presidential assent into the bill.

Ibrahim Musa, also said failure to sign the Bill will result in dire consequences for Nigeria such…

Inability to fulfill Nigeria’s 2016 London Anti- Corruption Summit Country Statement to build public central Register of company beneficial ownership information

Lagging in Financial Action Task Force (FATF) requirements.

CSLAC, therefore, urge the presidency to fulfill its commitment to the anti-corruption fight by empowering relevant agencies with necessary legal operationalization tools to efficiently deliver on their mandates.

Leave a Reply

Your email address will not be published. Required fields are marked *