Conflict of Interest Declaration Form

A Conflict of Interest Declaration Form is a formal document that an employee must complete to disclose any potential conflicts of interest they might have in a specific situation or role. Conflicts of interest arise when an employee or a staff of an organization has personal loyalties or interests that can potentially affect their ability to make an objective decision.

Examples of possible conflicts of interest which an employee may disclose to their employer include, but are not limited to the following:

• Family Ties: If an employee's family member, such as a spouse, sibling, or parent, works for the same employer or is involved in a business transaction with the employer, it can create a conflict of interest.
  
  
• Investments: If an employee has investments in companies that directly compete with their employer or are clients of their employer. Depending on the position of the employee in the employer's organization, it can create a possible conflict of interest and affect their fairness in making business decisions that affect those companies.
  
  
• Outside Employment: If an employee has another job or runs a side business similar to their employer's business, conflicts of interest can arise.
  
  
• Gifts and Favors: If an employee accepts gifts from their employer's clients, customers, suppliers, or business partners, this can create a conflict of interest, as there is a possibility that this can influence the employee's decisions at work.
  
  
• Supplier Relationships: If an employee has a personal connection to a vendor, supplier, or contractor that the employer does business with, it might make the employee biased in awarding contracts or making purchasing decisions for the employer.
  
  
• Personal Relationships: If the employee has a personal relationship with colleagues, especially relationships with a supervisor or subordinate at work, this can lead to conflicts of interest.

This document can be used to disclose any conflicts of interest or declare the absence of such conflicts and can be used together with a Conflict of Interest Policy.

This document allows employees to be open and disclose all potential conflicts of interest to keep their employer informed. The form typically consists of sections where individuals can indicate any financial interests, relationships, or affiliations that could potentially create a conflict between their personal interests and professional obligations. This includes financial connections, family associations, partnerships, or other relevant links.

The form is important because it serves as proof that the conflict of interest was disclosed. Even if someone mentioned the conflict verbally, it's crucial to have a written record. This way, if any issues arise later on, everyone can show that the proper procedures were followed.

How to use this document

This document can be used in two ways. An employee can either fill out all the relevant details directly or choose to print the document and provide the details later. If the first option is preferred, enter the necessary personal information and provide a comprehensive description of any conflicts of interest.

If the second option is preferred, the form will be generated with empty spaces for the employee's name, contact details, and description of the conflict(s) of interest. The employer can also save this form as a template and provide it to their employees who need to make a conflict of interest declaration.

Regardless of the chosen option, once an employee has completed the form and made their declaration, they can sign it and submit it to their employer, usually the human resources officer or someone in charge of employee affairs in the employer's organization. The employer will then keep the signed form for record-keeping purposes.

Applicable law

Several laws in Nigeria require persons to declare conflicts of interest. Examples of these laws include the following:

• The Companies and Allied Matters Act (CAMA) mandates directors and officers of companies to act in the company's best interests and disclose any conflicts of interest. The principles of transparency and disclosure are relevant in this context.
  
  
• The Code of Conduct Bureau and Tribunal Act establishes the Code of Conduct Bureau (CCB) and the Code of Conduct Tribunal (CCT). It obligates public officials, including elected officials, civil servants, and members of statutory bodies, to declare their assets, liabilities, interests, and conflicts of interest. The CCB may prescribe the use of declaration forms for this purpose.
  
  
• The Public Procurement Act regulates public procurement in Nigeria. It requires public officials involved in procurement processes to disclose any conflicts of interest. Although the act does not explicitly mention declaration forms, it emphasizes transparency, accountability, and the avoidance of conflicts of interest in public procurement.
  
  
• Various professional regulatory bodies in Nigeria, such as the Nigerian Bar Association (NBA), the Institute of Chartered Accountants of Nigeria (ICAN), and the Medical and Dental Council of Nigeria (MDCN), have their own codes of conduct and regulations. These bodies require their members to disclose conflicts of interest. They may prescribe the use of conflict of interest declaration forms as part of their regulatory framework.

How to modify the template

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.