The Open Government Partnership (OGP) Global Support Unit has announced Nigeria as the winner of the 2021 OGP Impact Award for Africa and the Middle East region.
The award is in recognition of Nigeria’s implementation of the Beneficial Ownership Transparency (BOT) in the extractive sector and broader Beneficial Ownership Transparency implemented by NEITI and CAC respectively.
Daily Trust reports that OGP is an organisation comprising of governments and civil societies that advocates for an open government accessible, responsive and accountable to citizens for a stronger relationship.
Announcing Nigeria as the winner, the OGP Global Support Unit observed that the Companies and Allied Matters Act (CAMA), would enable public authorities to track the proceeds of corruption and redirect the resources for national benefit.
Speaking on behalf of the Nigeria OGP National Steering Committee, in a statement, the Minister of State for Budget and National Planning, Prince Clem Agba, said Beneficial Ownership Transparency would enable more information about individuals who own or control registered legal entities and arrangements available to those who can use it effectively.
“By making Beneficial Ownership information available to authorities, businesses, and the public, Beneficial Ownership Transparency through the public register of beneficial owners can help disrupt the opacity on which criminals rely to perpetrate financial crimes.”
Agba added that through a public register, information about beneficial owners of companies and entities will be made available for financial and regulatory authorities and the general public to access and make use of.
On his part, the Chief Operations Officer of the Nigeria Economic Summit Group (NESG) and Non-State Actor Co-Chair, Dr Tayo Aduloju said the award emphasised the importance of the collective capacity of society to solve the most formidable challenges.