InfraCredit, an AAA-rated specialised infrastructure credit guarantee institution has created an anti-bribery management system certified as ISO 37001 compliant by Lloyd’s Register.
InfraCredit compliance and anti-bribery program demonstrates its commitment to upholding the highest international anti-bribery standards across the business in which it operates.
In a statement, Chinua Azubike, the chief executive officer said it is setting a standard for addressing problems caused by bribery to the development of infrastructure projects in Nigeria.
“As one of the very few African companies to achieve the status, InfraCredit is leading the way in tackling the challenges posed by bribery to infrastructure project development in Nigeria. As we endeavour to maximize our development impact and to ensure transparency around the use of proceeds on our guaranteed projects and capital investments, we take any allegations of corruption extremely seriously. In facilitating sustainable and inclusive infrastructure development in critical economic sectors in Nigeria, we adopt a zero-tolerance approach towards bribery and corruption in all its forms,” Azubike said.
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ISO 37001 is the gold standard in anti-bribery measures with a globally stringent audit system. Developed by 59 countries to address the global threat to sustainable development posed by bribery, the ISO 37001 certification was published by the International Organization for Standardization (ISO) in 2016, recognising companies with well-implemented systems designed to prevent, detect, report and deal with bribery across their business practices.
It was also said that the certification comes after a rigorous auditing process undertaken by the leading global assurance independent body, Lloyd’s Register Quality Assurance (LRQA), the world’s leading provider of independent assessment services. The audit involved examining our anti-bribery practices, including reporting procedures and transaction cycle, to ensure appropriate measures to prevent bribery have been implemented across our entire business.
InfraCredit is backed by the Nigeria Sovereign Investment Authority (“NSIA”), Private Infrastructure Development Group companies GuarantCo and InfraCo Africa, KfW Development Bank, Africa Finance Corporation (“AFC”) and African Development Bank.
