NEITI, EFCC To Enforce Transparency In Extractive Industries

Nigeria Extractive Industries Transparency Initiative (NEITI) has called for support from the Economic and Financial Crimes Commission (EFCC) in its quest to ensure transparency and accountability in the extractive industries in the country.

NEITI’s executive secretary, Orji Ogbonaya Orji, made the call when he led his team to visit the EFCC chairman, Ola Olukoyede, in Abuja.

Orji stated that the mission of NEITI is to make the extractive industry open and accountable and solicited EFCC’s support to enforce compliance of industries falling short of its standards on disclosure of information and data.

“We need strong support of the EFCC to enforce compliance with disclosure of information and data by companies,” he said.

In a presentation to the EFCC management staff, Mr Orji disclosed that 28 out of the 36 states were sourcing 84 per cent of their revenue from an allocation from the federation accounts.

He explained that “NEITI findings and recommendations are leading reforms in the oil, gas and mining industries,” and for the Initiative to deliver more optimal results to the nation, he called for stronger collaboration and synergy with the EFCC.

“Our allies in this industry are few, but with an ally like the EFCC, we feel strong and confident,” he said.

He also called for joint training, capacity building and manpower development for staff of the EFCC and NEITI.

The EFCC boss noted that every anti-corruption effort should always stand on the pillar of transparency.

He particularly said that lessons learnt due to fraud investigation should be a guiding principle for individuals, organisations and nations.

“Corruption investigation is not just for investigation’s sake. Lessons learnt should always be applied,” he said.

Mr Olukoyede assured NEITI of enhanced collaboration.

“We will renew our collaboration and mutual support. We will allow NEITI desks in our Zonal offices,” he said.