Nigeria

We are committed to implementing bilateral arrangements that will ensure law enforcement in one partner country has full and effective access to the beneficial ownership information of companies incorporated in the other partner country.

We commit to joining the pilot initiative for automatic exchange of beneficial information.

We will work towards full implementation of the principles of the Open Contracting Data Standard, focusing on major projects as an early priority. 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.

We will apply the Open Contracting Data Standard to the following major projects – (ii) Building of Health Centres and Improvement of Health Services;

Nigeria will establish a transparent central register of foreign companies bidding on public contracts and buying property.

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.

Nigeria is committed to establishing a public central register of company beneficial ownership information. (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.)