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#PanamaPapers: Buhari agrees to combat and expose corruption

13 May 2016, 08:37

London - Muhammadu Buhari's commitment alongside other far-reaching measures to combat corruption and improve transparency was contained in the country's draft statement during the anti-corruption summit in London on Thursday.

According to All Africa, Mr. Buhari said to enhance transparency in assets ownership; his administration would establish a public central register of beneficial owners of companies. 

Buhari's promise followed a Premium Times publication of the names of 106 Nigerians and firms who own companies and assets in offshore tax havens.

The revelation is part of the biggest data leak in history now known as the PanamaPapers. The leaked documents exposed how wealthy individuals, including public officials, are able to keep personal financial information private. 

The president explained that his government had already taken steps to improve transparency in companies involved in the procurement of properties and public contracts, reported Premium Times.

Buhari said “We are taking steps to ensure transparency of the ownership and control of all companies involved in property purchase and public contracting. Nigeria is already collating this information through the Extractive Industry Initiative process and would extend it to other sectors.

- News24 Nigeria


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