The Nigeria Extractive Industries Transparency Initiative, NEITI, is teaming up with the Economic and Financial Crimes Commission, (EFCC), to bring more transparency and accountability to the extractive industries in Nigeria. This collaboration aims to enforce compliance with disclosure of information and data by companies operating in the extractive industry.
Dr. Ognonaya Orji, the Executive Secretary of NEITI, emphasized the need for strong support from the EFCC to ensure that companies adhere to the standards of transparency and accountability. During a visit to the EFCC headquarters in Abuja, Dr. Orji highlighted the significance of NEITI’s mission to open up the extractive industry and make it more accountable. He also stressed the importance of the EFCC’s support in enforcing compliance with disclosure standards.
NEITI’s findings and recommendations have been instrumental in leading reforms in the oil, gas, and mining industries. Dr. Orji called for a closer collaboration and synergy with the EFCC to further enhance the Initiative’s impact. He expressed confidence in the strength and support provided by the EFCC, emphasizing the need for joint training, capacity building, and manpower development for staff of both organizations.
In response, Mr. Ola Olukoyede, the Executive Chairman of the EFCC, highlighted the crucial role of transparency in anti-corruption efforts. He emphasized that lessons learned from fraud investigations should serve as guiding principles for individuals, organizations, and nations. Mr. Olukoyede assured NEITI of enhanced collaboration and mutual support, including the establishment of NEITI desks in the EFCC’s Zonal offices.
This collaboration between NEITI and the EFCC signifies a strong commitment to promoting transparency and accountability in Nigeria’s extractive industries. By working together, these organizations aim to strengthen compliance with disclosure standards and drive positive reforms in the industry.