NewStats: 3,262,805 , 8,178,211 topics. Date: Tuesday, 03 June 2025 at 04:11 PM 601r2x

Vice-President Yemi Osinbajo has stressed the need to protect the identities of whistle-blowers and persons who divulge vital information leading to the exposure, arrest, and prosecution of corrupt elements within the society.

Osinbajo also said anonymous ownership of companies must be discouraged while noting that though secret ownership of companies “are not always illegal, nevertheless secrecy provides a convenient cover for criminality and corruption”.

This was contained in a speech delivered by the vice president on Tuesday and released by his Senior Special Assistant to the President on Media and Publicity, Laolu Akande.

Osinbajo, who spoke in a webinar marking the 20th anniversary of the Independent Corrupt Practices Commission themed ‘Combating Corruption And Illicit Financial Flows: New Measures And Strategies’, appreciated the IC board for maintaining the ideals of the anti-graft agency two decades after establishment.

Set up in the year 2000, the IC has the mandates to enforce laws against corruption, prevent acts of corruption, and educate the public against corruption.

According to the speech, the vice-president said, “For us in the developing world and especially in Africa, breaking the wall of secret corporate ownership is crucial because secrecy around corporate ownership is implicated in our underdevelopment.

Although anonymous companies are not always illegal, nevertheless secrecy provides a convenient cover for criminality and corruption.

“Our experience in Nigeria as in other developing countries is that anonymous corporate ownership covers a multitude of sins including conflict of interests, corruption, tax evasion, money laundering, and even terrorism financing.”

He added, “Secondly, we must protect, even more, whistle-blowers – persons who come forward with information against corruption.

We must protect those who are ready to fight against corruption and who are prepared to do so without necessarily disclosing their identities and even those who are ready to disclose their identities.

“The thing that we must take note of is that corruption fights back. And it is fighting back and it has the resources to do so. In recent times, one of the chief ways that we are seeing more frequently is the use of unscrupulous individuals who are paid to use social media platforms to make outrageous allegations against persons perceived to be fighting corruption.

“The technique is not new, the idea is to tie everybody with the same tar so that you cannot recognize the truly corrupt or the truly corrupt activity, and the genuine whistle-blowing is discredited as a result.

And because our court system is slow, they count on the possibility that these victims may not pursue litigation or prosecution: you must devise a new legal strategy to ensure that this dirty trick not only fails but is penalized.”

The vice president appreciated the current IC Board led by Prof Bolaji Owasanoye and the management and staff of the organisation for its tireless effort at fighting corruption and any of its appearances.

https://www.vanguardngr.com/2020/07/osinbajo-kicks-against-anonymous-ownership-of-companies/

Does such exist in Nigeria?

Thought every company is ed with CAC with full list of directors.

Please, someone should clarify this for me.

By the way, one of the way to protect whistle blowers is by paying them the agreed money.

So true particularly in our country where corruption thrives.

sapientia:
Does such exist in Nigeria?

Thought every company is ed with CAC with full list of directors.

Please, someone should clarify this for me.

By the way, one of the way to protect whistle blowers is by paying them the agreed money.

Most of them are the ones people are fronting for. Let them not use soup steal our bread again ojare
Lalasticlala art thou

Lol

Osibaba knows how to appeal to public emotions, he’s Buhari Government’s facade and a major reason why we’re where we’re here where we are today

sapientia:
Does such exist in Nigeria?

Thought every company is ed with CAC with full list of directors.

Please, someone should clarify this for me.

By the way, one of the way to protect whistle blowers is by paying them the agreed money.

You don’t even know warrisgoinon. A lot of unimaginable nonsense exist in Nigeria. Nothing to clarify you bro, it is what it is. What VP just did is, he gave you a clue on how, corruption, money laundering and terrorism has been breeding in Nigeria through Anonymous corporation and companies and he went as far to say they are not illegal. He said and I quote “Although anonymous companies are not always illegal”. How can you tell me companies ed under Securities And Exchanges Commission attain anonymous status. We well for this country so? Na wa o. Little wonder why so many foreign companies have run away from Nigeria. We have a very big problem in this country and it is going to swallow us all.

Words and synonyms

APC = Criminals

humilitypays:
APC = Advanced Political Criminals
Also
Armed Corrupt Politicians

Guy you dey vex ooo
Na synonyms i talk not acronyms.
Anyways, las las na criminals dem still be

Naso ☹️

anonymous ownership of companies? that doesn't sound right

ing a company, opening a bank etc. require the identities of all major shareholders.

Let’s see how this goes!!!
We probably gonna be alright someday

Good


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He is extremely right...and how are whistle-blowers rewarded? I am more interested in this.


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Nawa

Anonymous ownership is fraud

Right thing and Best thing to do.
Let us know the true owners of these kangaroo companies.
Anything Veil of incorporation is fraud.
That will help everyone in this country.

Anonymous companies to loot and launder our common resources. Every looter of our common wealth shall know no peace henceforth. The shall continue to encounter strange and incurable ailments.

Which one is anonymous ownership, I thought CAC s all company with recognized name and address

This country no balance oo

Vice With The Nice Idea always.. Love This Man. gives me GOOSBOMPS everytime he speaks

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1. By birth
2. By force
3. By deceit
4. By surprise
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stop this your pretence in this Buhari mess, if you are not carried along in Buhari policy resign and allowed we Nationalist to decide your future ambition because you can't exonerate VP from president bad policy.

He's partially right, because now Nigeria is still a developing country. But I hope it's changed as new development come into the country.

Osinbajo still day talk...Errand boy, after you finish abeg take this 1000 naira buy fuel 800 for the cabal, use the 200 change tey buy suya.

I didn't comprehend what I read but why will you own a company and hide your identity?? It's reeks illegality from afar.

Kwale weed no dey disappoint sha

It's too late Bro Osinbajo..
A larger percentage of Nigerian companies are owned secretly by these big politicians..

Everything about this country favours corruption.. Once u go against corruption in this country, u are freezed out of the system.. Best thing is to embrace the new "normal".

Good

Yes sir, let them own thier businesses so who know who's who.

Dan banza

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Proscription of strategic alliance between private establishments and government MDAs is the most effective way to curb corruption as it stands now, because major portion of the government's budget is being siphoned through strategic partners, not just through companies with anonymous owners.