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From Uche Usim, Abuja
Days of shielding owners of extractive industries’ assets, who often get away with various infractions that shortchange the country, are over.
This is because the Nigerian Extractive Industries Transparency Initiative (NEITI), in collaboration with various corporate and Civil Society Organisations (CSOs), has launched the “Joining the Dots with Politically Exposed Persons” (JTD), a web-based platform created to cross-reference the various data sources on politically exposed persons and the beneficial ownership registers, identify red flags in the licenses award processes in Nigeria’s oil, gas and mining sectors.
Speaking at the launch in Abuja on Tuesday, the Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, said the move became necessary because the challenges and risks of anonymous beneficial owners of extractive assets in resource-rich countries result in monumental corruption, tax evasion and diversion of a country’s wealth into the pockets of a few privileged individuals.
He listed other partners to include; Directorio Legislativo, BudgIT Foundation and Transparency in Totality.
He stated that the partnership seeks to support the establishment of frameworks that will facilitate transparency and accountability in Nigeria’s extractive sector, and to contribute to the unfettered and public access to data on politically exposed persons (PEPs) in Nigeria.
“The two goals are clearly in sync with the mandate given to NEITI in its establishment Act-The NEITI Act 2007 and the NEITI Strategic Plan 2022-2026.
“NEITI has long established that Beneficial Ownership Transparency (BOT), one of the tools that can be used for resource mobilisation, curb corruption, illicit financial flows and even terrorism financing.
“NEITI piloted the first BO reporting in 2013 and officially launched a BO register in 2019. At the global EITI level, all implementing member countries are required to report on the BO of the country’s extractive assets. Globally, over 100 countries have made commitments to implement BOT reforms”, Orji explained.
According to him, NEITI has, in the past one year, provided the technical support to the project, backing it up with the relevant data and information.
Orji added that the launch of the platform came at a time NEITI joined the high-ranking Nigerian delegation of member States of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) conference held in Ghana.
GIABA, he noted, seeks to tackle money laundering and associated offences currently undermining socio-economic and political development and regional security.
He further said that NEITI has set up an inter-agency network for Opening Extractives. Members of that committee include the Mining Cadastre Office (MCO), Ministry of Mines and Steel Development (MMSD), Nigeria Upstream Petroleum Regulatory Commission (NUPRC), (NMDPRA), Ministry of Petroleum Resources (MoP), Corporate Affairs Commission (CAC), Ministry of Finance (MoF), Nigeria Financial Intelligence Unit (NFIU), Independent Corrupt Practices and other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC).
Also speaking, Favour Ime of the Open Ownership, an NGO focused on supporting countries in deepening transparency in the extractive industry, in her goodwill message, said beneficial owners of assets in the sector are hidden.
“We don’t know who is bidding for the contract. We don’t know who owns what. EFCC and other law enforcement agencies won’t can’t fight crime under such an arrangement. The people don’t know who mines their resources.
“We need to know who’s really controlling the natural resources in Nigeria? That’s why we’re here,” she said.
