CAMA law will enhance transparency – President Buhari

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President Muhammadu Buhari on Thursday said the Companies and Allied Matters Act, 2020 which he recently signed into law will enhance transparency and corporate accountability and help the fight against corruption.

The Special Adviser to the President on Media and Publicity, Femi Adesina, disclosed this in a statement titled “CAMA Act will help us fight corruption, President Buhari explains at UNGA high-level summit.”

The presidential spokesman said Buhari spoke in a video message presented at the Open Government Partnership 2020 Virtual Leaders’ Summit on the sidelines of the 75th Session of the United Nations General Assembly in New York, United States.

The President spoke at a time stakeholders, including the Christian Association of Nigeria, are faulting some provisions of the law.

Adesina quoted the President as saying that “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.

On the COVID-19 pandemic, Buhari said it had become clear that governments cannot solve all the challenges of the pandemic alone.

He argued that it is only through open governance and working with citizens that nations can succeed.

He added that in these times, citizens worldwide are seeking more information, engagement, and support from their governments.

Buhari promised that his administration would continue to use its OGP membership to ensure that open government approaches strengthen pandemic management.

He added that the Nigerian government will sustain consultations and engagements with citizens through Civil Society Organisations and the Organised Private Sector on the COVID-19 response and recovery plan.

He said, “These consultations are in line with the effort of our administration to encourage public participation in government policies and programs

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