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By Chukwuma Umeorah
A civil society organisation, the Niger Delta Transparency Forum, has raised concerns over an alleged five percent divestment in Nigeria involving Cassa Depositi e Prestiti (CDP), calling for clarification from the institution’s management and its shareholders.
In a statement, the group’s Secretary-General, Ebikade Moses, questioned whether CDP’s shareholders had been adequately informed about the reported transaction and whether due diligence and disclosure requirements were followed.
“Are the shareholders aware of the five percent divestment in Nigeria? Has the management done its due diligence and disclosed the details to the shareholders? Is the Board worried about potential reputational damage?” the statement read.
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The Forum said it remains unclear if there are any direct shareholder links between CDP and Eni, noting that such relationships, if they exist, should be disclosed in the context of the reported divestment. It added that the issue raises broader concerns about corporate governance and accountability, particularly given CDP’s status as a state-backed development finance institution with international investments.
The group further disclosed that a meeting of major shareholders of CDP is scheduled to hold on Wednesday, urging that the matter be formally addressed.
According to the Group, transactions involving developing economies require a high level of transparency due to their potential economic and reputational implications. Efforts to obtain official comments from CDP on the matter were unsuccessful as of the time of filing this report.
