Niger Delta Group Seeks Clarity Over Alleged Nigeria Divestment

A civil society organisation, the Niger Delta Transparency Forum, has raised concerns over an alleged five per cent divestment in Nigeria involving Cassa Depositi e Prestiti (CDP), questioning whether the institution’s shareholders have been adequately informed.

In a statement issued yesterday, the group’s Secretary-General, Ebikade Moses, called on CDP’s management to provide clarity on the transaction, particularly regarding disclosure and due diligence processes.

The group questioned whether shareholders are aware of the reported divestment and whether proper steps were taken to ensure transparency.

“Are the shareholders aware of the 5 per cent divestment in Nigeria? Has management conducted due diligence and disclosed the details to shareholders? Is the board concerned about potential reputational risks?” the statement read.

The Forum also said it remains unclear whether CDP has any direct shareholder relationship with Eni, urging greater transparency around any possible links related to the reported transaction.

It further expressed concern about the broader implications of the alleged divestment, given CDP’s role as a state-backed development finance institution with significant global investments.

According to the group, public interest in the issue is growing, particularly regarding corporate governance standards and accountability in international financial operations.

The Forum disclosed that a meeting of major shareholders of CDP is scheduled for Wednesday and urged that the Nigeria divestment issue be addressed.

It emphasised the need for transparency in transactions involving developing economies, noting that such actions could have far-reaching economic and reputational consequences.