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Honesty, accountability and transparency are universal values-. President Yar’Adua

posted on Thursday, April 03, 2008 04:26 PM

President Umaru Musa Yar’Adua has declared that honesty, accountability and transparency were universal values, which must be applied universally, warning that under his Administration, all companies operating in Nigeria must abide by a strict code of ethics that places a premium on accountability, due process, transparency and the rule of law.

The President who made the declaration on February 11 at a meeting with a delegation led by Dr. Siegfried Russwurn, the Executive Vice President in charge of Africa of Siemens AG of Germany in Abuja, urged Siemens to create a system that would make it difficult for corruption to thrive in the course of its operations in Nigeria and other parts of the world.

He challenged Siemens to spearhead the establishment of a chapter of the Partnership against Corruption Initiative in Nigeria to show that it was now totally committed to honest business dealings in the country.

President Yar’Adua also stressed the need for a mutual legal assistance treaty between Nigeria and Germany because of the large number of German firms operating in the country.

“We need a Mutual Legal Assistance treaty, similar to the one we have with the United Kingdom because it serves as a deterrent to underhand dealings and corruption,” he said.

Dr. Russwurn told the President that Siemens has commissioned an investigator to conduct an independent inquiry on its operations worldwide.

He pledged that the company would give the fullest possible cooperation to the investigations being undertaken by Nigerian authorities on the allegation that it paid substantial bribes to government officials in past Administrations.

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