CISLAC laments how absence of CAMA affecting fight against corruption

Civil Society Legislative Advocacy Centre (CISLAC) has said the absence of the Corporate and Allied Matters Act (CAMA) was hampering the fight against corruption in Nigeria.

The centre said the CAMA act which was transmitted by the 8th National Assembly but was not signed into law before the expiration of the assembly.

According to the Executive Director of CISLAC, Auwal  Ibrahim Musa while briefing newsmen in Abuja on Thursday said that some major laws that could curb corrupt were yet to be signed into law.

He said the bill contained provisions that enhances the ability of anti-corruption agencies to detect and stop corruption .

In his words “It can also identify persons and companies involved in corruption and limit their ability to hide proceeds of corruption in companies registered in Nigeria and other jurisdictions.

“The process of developing the National Register of Beneficial Owners of companies operating within our jurisdiction is now hinged on presidential accent into the bill.

“We observed that the failure to sign the bill will result in dire consequences for Nigeria like the inability to fulfill Nigeria’s 2016 London  Anti-Corruption Summit Country statement to establish register of company owners.

The ED urged the presidency to fulfill its commitment to the anti-corruption fight by empowering relevant agencies with necessary legal operational tools to efficiently deliver on their mandates.

He said that this was necessary because there was no way the nation would succeed in the anti-corruption fight without having a beneficial owners register to know who owns what company.

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