Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu, SAN, has declared that transparent governance is the indispensable foundation for Nigeria’s sustainable progress, linking the nation’s economic fortunes directly to accountable systems.
Dr. Aliyu delivered this message recently as the keynote speaker at the Anti-Corruption Day event, part of the week-long celebration marking the 35th anniversary of the Corporate Affairs Commission (CAC).
In his address, titled “Transparency and Development: The Nigerian Experience,” the ICPC boss, represented by the Director of Public Education, Mr. Demola Bakare, fsi , argued that transparency has shifted from being an externally-driven reform to a critical domestic imperative. He stated that nations that institutionalise open access to information and strict accountability are the ones that achieve lasting growth.
“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 noted. “These practices have systematically undermined our institutions and slowed our development, proving that failure often stems from opaque systems, not a lack of resources.”
The Chairman singled out the CAC for its pivotal role in this national effort, stating that its regulation of corporate entities directly impacts investor confidence and Nigeria’s global business reputation.
He commended the Commission’s recent reforms, including the digitisation of its registration processes and leadership in beneficial ownership disclosure, as vital steps with far-reaching positive impact.
However, Dr. Aliyu cautioned that laws alone are insufficient. “The true effectiveness of transparency legislation depends entirely on its implementation, enforcement, and a supportive institutional culture,” He called for a deeper inter-agency collaboration, the use of open data for public policy, and a collective embrace of transparency by citizens and the private sector.
Echoing the call for unity, the Registrar-General/CEO of the CAC, Hussaini Ishaq Magaji, SAN, stated that the anti-corruption fight is a “national duty” requiring seamless coordination. He described the CAC as the essential custodian of corporate identity and a critical partner for any successful 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 commitment to supporting all anti-corruption bodies.
The event, attended by key stakeholders from the governance and anti-corruption sectors, also featured a panel discussion on strengthening national integrity systems. In a highlight of the ceremony, the ICPC was presented with an award of recognition by the CAC for its “significant contributions to promoting transparency, accountability, and good governance in Nigeria.”
