Transparent Governance Key to Nigeria’s Growth, ICPC Declares

Transparent Governance Key to Nigeria’s Growth, ICPC Declares

JOEL OLADELE, Abuja

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu, SAN, has declared that transparent governance is central to Nigeria’s economic growth and sustainable development.

Dr. Aliyu made the declaration 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 through the Director of Public Education at the ICPC, Mr. Demola Bakare, fsi, the Chairman stressed that transparency has become a domestic necessity rather than an externally-driven reform agenda. He noted that countries that build strong systems of accountability and open access to information are better positioned to achieve long-term 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 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.”

He linked Nigeria’s economic fortunes directly to accountable systems, arguing that sustainable progress can only be achieved when public and corporate institutions operate transparently.

The ICPC Chairman commended the Corporate Affairs Commission for its role in regulating corporate entities, describing it as critical to boosting investor confidence and strengthening Nigeria’s global business reputation.

He highlighted recent reforms by the Commission, including the digitisation of registration processes and its leadership in beneficial ownership disclosure, as major steps toward improving transparency in the corporate sector.

However, he warned that laws alone would not solve the problem of corruption without proper enforcement and institutional culture.

“The true effectiveness of transparency legislation depends entirely on its implementation, enforcement, and a supportive institutional culture,” he stated.

Dr. Aliyu called for stronger inter-agency collaboration, the use of open data in policymaking, and a collective commitment to transparency by citizens, government institutions and the private sector.

In his remarks, 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 cooperation among 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 bodies in strengthening accountability and good governance.

The event attracted key stakeholders from governance and anti-corruption institutions and featured a panel discussion on strengthening Nigeria’s integrity systems.

As part of the ceremony, the ICPC received an award from the CAC in recognition of its contributions to promoting transparency, accountability and good governance in the country.