Transparency Key to Nigeria’s Sustainable Development, Says ICPC Chair
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu, SAN, has underscored the critical role of transparency in driving Nigeria’s sustainable development, insisting that accountable governance systems remain the bedrock of economic progress.
Dr. Aliyu made the assertion while delivering a keynote address at the Anti-Corruption Day event held as part of activities marking the 35th anniversary of the Corporate Affairs Commission (CAC). He was represented at the event by the ICPC’s Director of Public Education, Mr. Demola Bakare, fsi.
Speaking on the theme, “Transparency and Development: The Nigerian Experience,” the ICPC Chairman stressed that transparency has evolved from an externally motivated reform agenda to a pressing domestic necessity. According to him, countries that institutionalise open access to information and uphold strict accountability standards are better positioned to achieve enduring 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,” Aliyu said. “These practices have systematically undermined our institutions and slowed our development, proving that failure often stems from opaque systems, not a lack of resources.”
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He noted that the CAC occupies a strategic position in promoting transparency, given its regulatory oversight of corporate entities, which directly influences investor confidence and Nigeria’s global business standing. The ICPC Chairman commended the Commission’s recent reforms, particularly the digitisation of company registration processes and its leadership in beneficial ownership disclosure, describing them as significant steps toward strengthening corporate accountability.
However, Aliyu cautioned that enacting laws alone would not guarantee results. He emphasised that the effectiveness of transparency legislation depends largely on robust implementation, consistent enforcement, and the cultivation of an institutional culture that values openness.
He called for enhanced inter-agency collaboration, the adoption of open data systems in public policy formulation, and greater commitment to transparency by citizens and private sector actors.
Also speaking at the event, the Registrar-General and Chief Executive Officer of the CAC, Hussaini Ishaq Magaji, SAN, described the fight against corruption as a “national duty” that requires seamless coordination among relevant agencies.
“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 said.
He reaffirmed the CAC’s commitment to supporting anti-corruption agencies and strengthening institutional partnerships to combat financial crimes.
The event drew stakeholders from governance and anti-corruption institutions and featured a panel discussion focused on strengthening Nigeria’s national integrity systems. In recognition of its contributions, the ICPC received an award from the CAC for its significant role in promoting transparency, accountability, and good governance in the country.
By PRNigeria
