Nigeria

Business Action Against Corruption (BAAC) Nigeria

Convention on Business Integrity (CBI)

Business Action Against Corruption (BAAC) Nigeria

Mission

Improve corporate governance and reduce corruption in the Nigeria

Goals

The Business Action Against Corruption (BAAC) initiative in Nigeria aims to improve corporate governance and reduce corruption in the Nigerian business environment. The project also supports practical initiatives, which promote good governance and improve the investment climate.

The project will do this by strengthening self-regulation of business, its compliance with government regulations, stakeholder activism and public vigilance over the arrangement. It will also build on existing relationships with the two principal regulators, the Central Bank of Nigeria (CBN) and the Nigerian Securities Exchange Commission (SEC) to build a partnership to strengthen corporate leadership practices by raising standards of board leadership across the economy.

It will seek to reach out to directors of listed companies in Nigeria to review their fiduciary responsibilities, and define stakeholder expectations. The aim is to define a set of business principles, reporting guidelines and a system of compliance incentives jointly with directors of listed companies in Nigeria. As an additional step, stakeholders will work on an independent public feedback mechanism for compliance monitoring, inclusive of whistleblower and complaints-handling mechanisms. It will also establish an interactive social networking website to promote peer learning and issue-based training for coalition partners.

Stakeholders

The project was initially launched by the Commonwealth Business Council (CBC). In 2013, the Convention on Business Integrity (CBI) became the main implementer of the project.

The project was funded by the Siemens Integrity Initiative.

This information is gathered from open-source data and in some cases has been provided by initiative facilitators. We cannot guarantee the accuracy or completeness of the information and do not take responsibility for decisions made on the basis of it. Please inform us of any errors by emailing us.

Start Year

Status

  • completed
    Work has finished and deliverables/tasks have been completed.

Countries Operations

Countries Host

Scope

  • national
    Initiative that operates in and focuses mainly on one country, whether on a national or sub-national level.

Industry

Stakeholders

  • Private sector
    Privately owned commercial (for-profit) entities of all sizes, including SMEs
  • Public sector
    National and sub-national, local government entities, agencies from all branches (policy-making, executive, adjudication)
  • Civil society
    non-governmental organisations (national or international), foundations funded by private entities, faith-based organisations, Professional associations, Industry associations, Chambers of Commerce, Local Global Compact Networks

Type

  • Engagement-focused initiative
    Joint declarations of intent, Joint capacity and learning initiatives, Industry-specific working groups, Joint events/awareness raising, Joint activities and integrity tools

Linked resources

Related Initiatives

Need help understanding the terms and categories used in this initiative?

View Methodology & Definitions