2016 London Summit Commitments

London Summit Commitment Tracker

Corruption is at the heart of so many of the world’s problems. It erodes public trust in government, undermines the rule of law, and may give rise to political and economic grievances that may, in conjunction with other factors, fuel violent extremism. Tackling corruption is vital for sustaining economic stability and growth, maintaining security of societies, protecting human rights, reducing poverty, protecting the environment for future generations and addressing serious and organised crime. During the 2016 London Anti-Corruption Summit, The Federal Government of Nigeria made some Commitments to fight corruption, the major thematic areas are listed below

Status

3

Thematic Areas

12

Commitments

31

Milestones

London Summit Milestones

Milestone Milestone Notes/Links commitments thematic Area Status
1 Nigeria is committed to establishing a public central register of company beneficial ownership information (BOI). (The President of Nigeria has presented a draft Money Laundering Prevention and Prohibition Bill to the National Assembly in February, 2016. This bill has defined beneficial ownership in line with FATF standards). The Senate of the Federal Republic of Nigeria passed the Companies and Allied Matters (Repeal and Re-enactment) Bill 2018 on Tuesday, May 15, 2018 with Beneficial Ownership as one of the key provisions around ease of doing business in Nigeria. These provisions in this legislative framework will mandate the disclosure of beneficial interests in a company’s shares and prescribe punitive measures for failing to disclose such interests. In this regard, where a person holds interests on behalf of another in a nominal capacity in a company, both parties (the owner and the nominal holder) are required to disclose the beneficial interests to the company. Beneficial Ownership Transparency EXPOSE CORRUPTION UNDERWAY
2 Nigeria has a database of registered companies, charities and trustees and provides access to lawyers and law enforcement agencies to BOI for companies and other legal entities registered within our jurisdiction. Following the NEITI pilot, issuing a roadmap for implementing beneficial ownership reforms, the Corporate Affairs Commission (CAC) was saddled with the on-going responsibility of leading engagement on beneficial ownership and hosting the disclosure register for centrality of information, with NEITI performing complementary functions. [Source: cislacnigeria.net/wp-content/uploads/2018/02/BO-FACTSHEET.pdf] Beneficial Ownership Transparency EXPOSE CORRUPTION UNDERWAY
3 We are committed to implementing bilateral arrangements that will ensure law enforcement in one partner country has full and effective access to the BOI of companies incorporated in the other partner country. Nigeria's signing on to the United Nations Convention against corruption (UNCAC) is a step at creating an enabling environment for exchange of information on stolen assets. During the global forum on asset recovery in December 2017, Nigeria was also a focus for asset recovery efforts Beneficial Ownership Transparency EXPOSE CORRUPTION UNDERWAY
4 We are taking steps to ensure transparency of the ownership and control of all companies involved in property purchase and public contracting. Nigeria is already collating this information through the Extractive Industry Initiative process and would extend it to other sectors. The Bureau of Public Procurement (BPP) has concluded plans to launch a citizen engagement portal that will feed interested persons with updates on government-approved projects. We are yet to see concrete results. Beneficial Ownership Transparency EXPOSE CORRUPTION UNDERWAY
5 Nigeria will establish a transparent central register of foreign companies bidding on public contracts and buying property. The most recent development on this commitment is the Corporate Affairs Commission issuance of a circular for all entities to disclose the beneficial owners in their annual report starting from the 2017 annual report. Beneficial Ownership Transparency EXPOSE CORRUPTION UNDERWAY
6 We commit to joining the pilot initiative for automatic exchange of beneficial information Nigeria has signed agreements with a number of nations, which provide for the Automatic Exchange of Information (AEI). These agreements allow the exchange of information between tax authorities of different countries and about financial accounts and investments to help stop tax evasion. Countries who are party to this agreement include Switzerland, Panama, the Bahamas and other tax havens. Beneficial Ownership Transparency EXPOSE CORRUPTION UNDERWAY
7 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. (Within the financial sector, such a partnership exists and brings together the Chief Compliance Officers of banks, law enforcement and security agencies). Within the financial sector, such a partnership exists and brings together the Chief Compliance Officers of banks, law enforcement and security agencies. Preventing the Facilitation of Corruption EXPOSE CORRUPTION UNDERWAY
8 We will work together with interested countries to share information between respective public-private partnerships to ensure the most effective response to international money laundering Preventing the Facilitation of Corruption EXPOSE CORRUPTION NO DATA
9 We will work towards full implementation of the principles of the Open Contracting Data Standard, focusing on major projects as an early priority Governmental agencies are urged to follow Open Contracting Data Standards but there is no evidence that they do. http://www.budeshi.ng/home/data collects data on open contracts. While between 2016 and 2017, contracts were monitored, there are no entries for 2017. Public Procurement and Fiscal Transparency EXPOSE CORRUPTION INACTIVE
10 We will apply the Open Contracting Data Standard to the following major projects – (i) Development of Refineries in the oil Sector; (ii) Building of Health Centres and Improvement of Health Services; (iii) Building of Roads and other Infrastructures; (iv) Building of Schools and Improving Transparency in the Management of Education Funds and (v) Investment in the Power Sector. Governmental agencies are urged to follow Open Contracting Data Standards but there is no evidence that they do. http://www.budeshi.ng/home/data collects data on open contracts. While between 2016 and 2017, contracts were monitored, there are no entries for 2017. Public Procurement and Fiscal Transparency EXPOSE CORRUPTION INACTIVE
11 We will implement the principles of Open Government Partnership and Open Data Charter. Source: https://opendata charter.net/adopted-by-countries-and-cities/ Public Procurement and Fiscal Transparency EXPOSE CORRUPTION INACTIVE
12 We commit to undertake IMF Fiscal Transparency Evaluation. Public Procurement and Fiscal Transparency EXPOSE CORRUPTION NO DATA
13 We commit to work together to enhance company disclosure on the payments to governments for the sale of oil, gas and minerals, complementing on-going work within the Extractive industry Transparency Initiative (EITI). (As a member of the EITI, Nigeria is already implementing the principles of disclosure required under the EITI). As a member of the EITI, Nigeria is already implementing the principles of disclosure required under the EITI. Extractive Industry (Oil Sector and Solid Minerals) EXPOSE CORRUPTION UNDERWAY
14 Nigeria is already reporting progress through the EITI working groups and will continue to work with interested countries to build a common understanding and strengthen the evidence for transparency in this area. Extractive Industry (Oil Sector and Solid Minerals) EXPOSE CORRUPTION UNDERWAY
15 We welcome voluntary disclosures through EITI reporting and by some major companies regarding payments to governments for the sale of oil, gas and minerals. EITI summary report shows that Nigeria has made inadequate progress in documenting policy on public disclosure of contracts and licences. (Source: EITI summary report) Extractive Industry (Oil Sector and Solid Minerals) EXPOSE CORRUPTION UNDERWAY
16 We welcome the new 2016 EITI standard, in particular the requirements on beneficial ownership and the sale of the state’s share of production. Despite inadequate progress in documenting policy on public disclosure of contracts and licences, Nigeria has shown meaningful progress in meeting the requirements under each category of the 2016 EITI standard. Extractive Industry (Oil Sector and Solid Minerals) EXPOSE CORRUPTION UNDERWAY
17 We will sign up to the Common Reporting Standard Initiative. On August 17, 2017, Nigeria became the 94th jurisdiction to sign the Multilateral Competent Authority Agreement (MCAA) and the 71st to sign the Multilateral Convention to Implement Tax Treaty Related Measures to prevent Base Erosion and Profit Shifting (MLI) on the common reporting standard, at the OECD headquarters in Paris. (Source: OECD.org) Tax Transparency EXPOSE CORRUPTION UNDERWAY
18 We commit to join the Addis Tax initiative. Nigeria is not one of the 43 countries that have signed up to the Addis Tax Initiative. Source: https://www.addistaxinitiative.net/# slider-4 Tax Transparency EXPOSE CORRUPTION INACTIVE
19 We commit to reviewing penalties and other actions against professional enablers of tax evasion, including for corporations that fail to prevent their employees from facilitating tax evasion. Efforts such as the introduction of VAIDS by the FG on July, 2017 and an expiration date, has compelled tax compliance and marked improvements such as the increase in tax payers from 13m to 19.3million in the period of VAIDS introduction. Also penalties for failure to file or incorrect filing of taxes are provided for in the newly issued CbCR Regulations. Tax Transparency EXPOSE CORRUPTION UNDERWAY
20 We support the development of a global commitment for public country by country reporting on tax information for large multinational enterprises. The FIRS issued the Income Tax Country by Country Reporting Regulations (CbCR Regulations), in June 2018. They apply only to Multi-National Enterprises (MNE) Groups that meet certain revenue benchmark and tax-residency criteria. Tax Transparency EXPOSE CORRUPTION COMPLETED
21 We commit to establishing accessible central databases of companies with final convictions. Prevent Corrupt Bidders From Winning Contracts PUNISH THE CORRUPT AND SUPPORT THE VICTIMS WHO HAVE SUFFERED FROM CORRUPTION NO DATA
22 We commit to exploring ways of sharing information on corrupt bidders across borders. Prevent Corrupt Bidders From Winning Contracts PUNISH THE CORRUPT AND SUPPORT THE VICTIMS WHO HAVE SUFFERED FROM CORRUPTION NO DATA
23 We commit to the strengthening of our asset recovery legislation, including through non-conviction based confiscation powers and the introduction of unexplained wealth orders Crucial Proceeds of Crime Bill 2014 has not been passed into Law despite repeated assurances of political commitment. Unexplained Wealth Order is not being discussed at all. Non-conviction based approaches are present in the legal framework and are occasionally used despite the complaints from judges that the legislative provision is not clear. Asset recovery, Asset return and Transparent management of returned assets. PUNISH THE CORRUPT AND SUPPORT THE VICTIMS WHO HAVE SUFFERED FROM CORRUPTION INACTIVE
24 We commit to developing internationally endorsed guidelines for the transparent and accountable management of returned stolen assets. The Presidential Advisory Committee Against Corruption (PACAC) has published a number of guidelines for anti-corruption agencies and judiciary on how to conduct final and interim forfeiture of assets. Crucially, guidelines on non-conviction based forfeitures have been also published. However, the PACAC is only an advisory committee with no authority to implement the guidelines. There has been a sharp increase in the volume of seized assets reported by the Economic Financial Crime Commission (EFCC). There is however no independent review on the management of these forfeited assets Asset recovery, Asset return and Transparent management of returned assets. PUNISH THE CORRUPT AND SUPPORT THE VICTIMS WHO HAVE SUFFERED FROM CORRUPTION UNDERWAY
25 We will develop common principles governing the payment of compensation to the countries affected, (including payments from foreign bribery cases) to ensure that such payments are made safely, fairly and in a transparent manner. Payments To Affected States And Victims Of Corruption PUNISH THE CORRUPT AND SUPPORT THE VICTIMS WHO HAVE SUFFERED FROM CORRUPTION NO DATA
26 We will join the International Sport Integrity Partnership. Fostering in International Sports DRIVE OUT CULTURE OF CORRUPTION NO DATA
27 We will launch a practitioner partnership on institutional integrity, coordinated by the OECD. This will cover the following sectors: [extractives, health, education, public service and anti-corruption institutions]. Promoting integrity in our institutions DRIVE OUT CULTURE OF CORRUPTION NO DATA
28 We will provide institutional integrity and partnership between the UK Auditor General’s office and the Nigerian office of the Auditor General as well as between Nigeria’s Anti-Corruption institutions and the UK national crime agency to build the capacity to fight corruption while also improving professional standards. Promoting integrity in our institutions DRIVE OUT CULTURE OF CORRUPTION NO DATA
29 We commit to participating in an innovative hub that will facilitate the uptake of new approaches and technologies to tackle corruption and to improve access to information. Support innovations in the use of technology to fight corruption DRIVE OUT CULTURE OF CORRUPTION NO DATA
30 We will work with other countries, civil society and international organisations to support accelerated implementation of the voluntary provisions of the UN Convention Against Corruption (UNCAC) and we commit to the implementation of the outstanding obligations under the UNCAC. Support to International System DRIVE OUT CULTURE OF CORRUPTION NO DATA
31 We support the establishment of an International Anti-corruption Coordination Centre to be managed by National Crimes Agency (NCA), UK. We will work with NCA in promoting this centre in the African Region. There are a number of exchanges with law enforcement authorities in UK, USA, UEA, etc. However, no discussion is underway to set up the International Anti-corruption Centre. Nigeria has still been suspended from the Egmont group and in September 2018 the Egmont group will decide if Nigeria will be expelled indefinitely. Support to International System DRIVE OUT CULTURE OF CORRUPTION INACTIVE
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