CAMA Law Will Help Nigerian Government Tackle Corruption —Buhari

 Nigeria's President Muhammadu Buhari.

President Muhammadu Buhari has said that the recently passed Companies and Allied Matters Act, 2020 in Nigeria will enhance transparency and company accountability within the fight against corruption.

On August 7, Buhari signed CAMA into law and it caused uproar among religious leaders in particular.

Under the law, religious bodies and charity organisations are going to be strictly regulated by the Registrar-General of Corporate Affairs Commission and a supervising minister.

But speaking at the Virtual Leaders ' Summit of the Open Government Alliance 2020 on the sidelines of the 75th Session of the General Assembly of the United Nations, the President said the legislation would enhance transparency and company accountability within the fight against corruption.

Since the beginning of our administration in 2015, the government has been committed to improving foreign and domestic perceptions of Nigeria 's commitment to fighting corruption and fostering corruption good governance.

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''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 like to determine a The centralised public registry of beneficial owners of corporate bodies.

We have made considerable strides since then in introducing stricter anti-corruption legislation, including my recent approval of the 2020 Companies and Allied Matters Act.

The Act offers a legislative structure for Beneficial Ownership Knowledge Disclosure in Nigeria to be enforced.

''As an OGP member-country, Nigeria has helped to learn from other countries that are addressing similar problems and to form a partnership to promote these reforms in the private sector and civil society. Our path towards building the trust of people in government has also been helped.