From Commitment to Law of the Land: Beneficial Ownership Transparency in Nigeria
From CommitmentOGP commitments are promises for reform co-created by governments and civil society and submitted as part of an action plan. Commitments typically include a description of the problem, concrete action... to Law of the Land: Beneficial OwnershipDisclosing beneficial owners — those who ultimately control or profit from a business — is essential for combating corruption, stemming illicit financial flows, and fighting tax evasion. Technical spe... More TransparencyAccording to OGP’s Articles of Governance, transparency occurs when “government-held information (including on activities and decisions) is open, comprehensive, timely, freely available to the public,... More in Nigeria
Summary
Shell companies are often a major enabler of corruption and financial crime.
Submitted by: Open Government PartnershipThe Open Government Partnership (OGP) is a multi-stakeholder initiative focused on improving government transparency, ensuring opportunities for citizen participation in public matters, and strengthen... More
To tackle this, Nigerian reformers in government and civil society came together to establish a registry to disclose the real owners of this companies through OGP. This is how they did it.
Leave a Reply