FG to disclose owners of contract firms

The Federal Government has said that it was committed to the disclosure of beneficial owners of companies so that citizens would know those behind companies awarded contracts and ensures avoidance of conflict of interest.

The Minister of State, Budget and National Planning, Prince Clem Agba, said this while speaking at the launch of “Documentation of Open Contracting in Nigeria” organised by the Public and Private Development Centre (PPDC).

“Our disclosure effort, especially with the disclosure of beneficial owners of companies, will show citizens those behind companies awarded contracts and ensure avoidance of conflict of interest.”

The minister who was represented by the Civil Society Adviser, OGP Nigeria Secretariat, Stanley Achonu, also said, “To ensure that the pandemic does not further deteriorate citizens’ trust in government, we are disclosing budget, procurement, payment and audit information while reassuring citizens that utilisation of funds is done in a value-driven manner.”

The CEO of PPDC, Nkem Ilo, said “The open contracting initiative, which started in 2016, is evidence of this commitment to further strengthen public procurement processes in Nigeria,” she said.