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FG: Transparency in beneficial ownership of companies critical in corruption fight

The Presidential Advisory Committee Against Corruption (PACAC), has underscored the importance of transparency in beneficial ownership of companies, saying the development remains fundamental in the ongoing fight against corruption. Chairman of the PACAC, Prof. Itse Sagay (SAN), made the position in his welcome remark to declare open a webinar on “The Role of Professionals in Curbing Financial Crimes,” Friday. According to the Professor of Law, professional bodies, especially accountants, bankers, lawyers, as well as engineers, play major roles in enthronement of probity, accountability, and transparency in the governance system.

He said it was in realisation of this that the presidential committee had continued to engage Association of Professional Bodies in Nigeria, in a bid to further the anti-graft war in the country. The learned silk said: “Lawyers, Accountants, Engineers, Bankers, Quantity Surveyors, and field Surveyors, all play major roles directly in the growth and health of the economy. “They also play an even more significant role as critical vectors in the prevention or promotion of economic crimes as professional advisers and enablers of divers’ persons and organisations engaged in money laundering, illicit financial flows and many other types of financial crimes engaged in by their clients.

 

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