By Nkechi Eze
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu, SAN, has declared that transparency in governance and corporate practice is not optional but fundamental to Nigeria’s sustainable development, firmly linking the nation’s economic progress to accountable and open systems.
In an official signed statement, the Spokesperson for the Commission, J. Okor Odey, disclosed that Dr. Aliyu made the assertion while delivering the keynote address at the Anti-Corruption Day event held as part of activities marking the 35th anniversary of the Corporate Affairs Commission (CAC).
Speaking on the theme, “Transparency and Development: The Nigerian Experience,” the ICPC Chairman, who was represented by the Director of Public Education, Mr. Demola Bakare, fsi, stressed that transparency has evolved from being an externally driven reform agenda to a pressing domestic necessity. According to him, countries that institutionalise open access to information and enforce strict accountability mechanisms are the ones that achieve enduring economic growth and institutional stability.
“Our historical experience shows that weak transparency in governance and corporate practices has been the fertile ground for corruption, tax evasion, and illicit financial flows,” Dr. Aliyu stated. “These practices have systematically undermined our institutions and slowed our development, proving that failure often stems from opaque systems, not a lack of resources.”
He noted that Nigeria’s development challenges cannot be divorced from issues of accountability, insisting that transparent systems are the bedrock upon which investor confidence, economic expansion, and public trust are built.
Dr. Aliyu singled out the Corporate Affairs Commission for its strategic role in strengthening Nigeria’s integrity framework, pointing out that its regulation of corporate entities directly shapes investor confidence and the country’s global business reputation. He commended the Commission’s recent reforms, particularly the digitisation of company registration processes and its leadership in beneficial ownership disclosure, describing them as transformative steps with far-reaching positive implications for the business environment.
However, the ICPC boss cautioned that enacting laws alone would not deliver the desired outcomes. “The true effectiveness of transparency legislation depends entirely on its implementation, enforcement, and a supportive institutional culture,” he emphasised, calling for deeper inter-agency collaboration, the deployment of open data to drive public policy, and a shared commitment to transparency among citizens and the private sector.
Echoing the call for synergy, the Registrar-General and Chief Executive Officer of the CAC, Hussaini Ishaq Magaji, SAN, described the anti-corruption fight as a “national duty” that demands seamless coordination among institutions. He characterised the CAC as the custodian of corporate identity in Nigeria and a critical partner in the prosecution of financial crimes.
“No agency can succeed in isolation. We must deepen information sharing and conduct joint investigations to ensure our collective efforts translate into measurable outcomes for Nigeria,” Magaji asserted, reaffirming the CAC’s resolve to support anti-corruption bodies in the discharge of their mandates.
The event attracted key stakeholders from governance and anti-corruption sectors and featured a panel discussion focused on strengthening Nigeria’s national integrity systems. In a notable highlight of the ceremony, the ICPC received an award of recognition from the CAC for its significant contributions to promoting transparency, accountability, and good governance in Nigeria.
