Source: www.authorityngr.com

Source: www.authorityngr.com

A new platform has been launched by the President Muhammadu Buhari led Federal Government to aid the ongoing anti-corruption war.

The President revealed that in the ongoing war against corruption, the nation will soon start a full enforcement of the guidelines of the Open Contracting Data Standard, OCDS.

At the Anti-corruption summit held in London on Thursday, President Buhari promised that the OCDS standard will ensure a disclosure of data and documents at all phases of the contracting process by defining a common data model. The structure of OCDS data enables more transparency with the public.

“Nigeria is already collating this information through the Extractive Industry Initiative process and will extend it to other sectors.

“Nigeria will establish a transparent central register of foreign companies bidding on public contracts and buying property. We welcome the proposal by developed countries to work together to improve the access of developing countries to beneficial ownership information for use in public contracting”, the president said.

The President also introduced a system to hinder corrupt officials to travel and invest in a business outside the home base.

He said “we commit to joining the pilot initiative for automatic exchange of beneficial information. Nigeria commits to deploying public-private information sharing partnerships to bring together governments, law enforcement, regulators and the financial sector to detect, prevent and disrupt money laundering linked to corruption.”

Author: Cerebral Lemon