Business - News - April 21, 2021

Nigeria EITI, ICPC set joint anti-graft cooperation pact

The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on Wednesday announced a joint cooperation pact set up to tackle corruption and anro-graft issues in the extractive industries.
Under the joint cooperation arrangement, the ICPC is to set up a special extractive industry desk ro handle corruption and other anti-graft issues in the extractive industries. No no o
On its part, NEITI would regularly feed the desk with relevant information and data on extractive industry revenue process abuses, lapses and corruption issues.
These were part of the resolutions reached at a meeting of the two organisations led by the Executive Secretary of NEITI, Ogbonnaya Orji and the Chairman of the ICPC,Bolaji Owasanoye.
Orji said the joint cooperation arrangement between the two agencies became necessary to strengthen NEITI’s capacity to hold accountable, covered entities that fail to address issues or respond positively and timely to remedial issues contained in NEITI audit reports.
He welcomed the offer by the ICPC to support NEITI operations with enforcements which would ensure that adequate sanctions and consequences for financial misconduct in the extractive industries were meted out to erring covered entities.
Chairman of the ICPC, Bolaji Owasanoye welcomed NEITI’s initiative to seek partnership and collaboration in areas where NEITI needs help and support.
“I pledge the support of the Commission under this joint cooperation arrangement. We will offer our support in the areas of investigation and prosecution which we consider, important steps towards checking corruption in the oil, gas and mining sector”, Owasanoye said.
He said he was proud of the job that NEITI was doing, especially in collaborating with the National Assembly and leading civil society advocacy actors for the early passage of the Petroleum Industry Bill (PIB).
The joint cooperation arrangement between the two organizations would be guided by a memorandum of understanding (MoU).

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