The Corporate Affairs Commission, CAC, and the Bureau of Public Procurement, BPP, have resolved to strengthen collaboration to support the federal government’s agenda for achieving a trillion-dollar economy.
The decision was reached during a courtesy visit to the Registrar-General and Chief Executive Officer of CAC, Hussaini Ishaq Magaji, by the Director-General of the BPP, Dr. Adebowale A. Adedokun ongoing reform initiatives, which align with President Bola Ahmed Tinubu’s renewed hope agenda, particularly Item 7, which emphasizes digitization and innovation.
Mr Magaji revealed that CAC has leveraged these provisions to develop and deploy artificial intelligence tools in its operations, significantly improving the ease of doing business for companies across Nigeria.
He further encouraged the BPP to utilize the Commission’s globally acclaimed Beneficial Ownership Register to strengthen procurement processes and promote transparency.
Mr Magaji also proposed collaboration on capacity development programs between the two agencies to enhance professional expertise and operational efficiency.
In his remarks, Mr Adedokun recalled the long-standing partnership between CAC and BPP, which dates back to 2008, and applauded the reforms being implemented by the commission.
He emphasized that both agencies have a critical role to play in the federal government’s vision of a trillion-dollar economy.
Mr Adedokun also highlighted the importance of beneficial ownership in procurement, stressing the need to ensure transparency and eliminate duplicate or sham bidders.
He underscored the importance of robust enforcement measures to guarantee compliance and accountability among professional bodies, whose executives often overstay their tenures in contravention of corporate governance codes.
The BPP Director-General further disclosed that, over the past 12 months, the bureau has saved ₦1.1 trillion for the government through the implementation of a strong price intelligence mechanism and reforms designed to tighten procurement practices.
The collaboration between CAC and BPP is expected to enhance regulatory oversight, strengthen transparency in public procurement, and support Nigeria’s broader economic transformation objectives under the Tinubu administration.
