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NEITI launches ‘Opening Extractives’ for effective governance, transparency

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The Nigeria Extractive Industries Transparency Initiative (NEITI), has inaugurated Opening Extractives in Nigeria, to tackle corruption and illicit financial flow for effective governance in the extractive sector.

The programme would also transform the availability of beneficial ownership information to respective stakeholders.

The News Agency of Nigeria (NAN), reports that Opening Extractives is a global programme designed to support national governments and stakeholders, to deepen beneficial ownership transparency and reforms in respective countries.

The programme was formally launched on Tuesday in Abuja, by Dr Zainab Ahmed, Minister of Finance, Budget and National Planning.

Ahmed was represented by Prince Clem Agba, Minister of State for Budget and National Planning.

NAN reports that the programme is jointly implemented by Global Extractive Industries Transparency Initiative (EITI) and Open Ownership.

The programme would ensure that government, industries and civil society actors, accessed reliable information on the ultimate owners of extractive companies.

Dr Orji Ogbonnaya Orji, Executive Secretary, NEITI, in an address, said the programme would operate an effective tax system and strengthen corporate accountability.

Orji noted that governments and organisations both in developing and developed countries were strategising to lift the veil of secrecy over ownerships of extractive assets of resource countries.

He lauded participating countries, bilateral and multilateral organisations, especially BHP Foundation, for their commitment towards the implementation of Opening Extractives in nine resource-rich countries to the tune of 7.2 million dollars in the next five years.

The NEITI helmsman, who noted that hidden corporate ownership posed danger to collective developmental aspirations, said NEITI was, however, working to expand its reports’ scope and deepen disclosures of beneficial ownership of Nigeria’s extractive assets.

He described the beneficial ownership transparency as a global norm of which Nigeria would not be left behind, given its experiences in the fight against corruption, insecurity, terrorism, money laundering and illicit financial flows.

Orji stated that the selection of Nigeria as one of the nine countries currently implementing Opening Extractives was a direct acknowledgement and recognition of President Muhammadu Buhari’s administration’s commitment to beneficial ownership transparency reforms.

He recalled that Nigeria joined the league of countries with a legal framework on the implementation of beneficial ownership transparency when the amended Companies and Allied Matters Act (CAMA) was signed into law in 2020.

The executive secretary explained that the act introduced mandatory disclosure of persons with significant control of the company in a register of beneficial owners.

He added that the President also signed the Petroleum Industry Act (PIA), which required the Nigerian Upstream Petroleum Regulatory Commission (NURPC) to keep a public register of beneficial ownership of licenses, leases and permits, among others.

He urged governments across the globe to emulate Nigeria and put in place the required legal frameworks on beneficial ownership disclosures in their respective countries to end the regime of corporate secrecy globally.

The NEITI boss, however, said it was bringing fresh perspectives by broadening the scope of its engagements with extractive industries stakeholders and finalising plans to revitalise the inter-ministerial Task Team (IMTT), to address remediation issues in NEITI.

He disclosed that NEITI 2020 Reports- Oil, Gas and Solid minerals are now in the final stages of completion, and shall be ready for release by the National Stakeholders’ Working Group (NSWG) before the end of 2021.

In a remark, Mark Robinson, EITI Executive Director, urged relevant agencies to improve transparency on beneficial owners of companies operating in Nigeria.

Robinson said the programme had the potential to accelerate Nigeria’s impressive efforts in advancing beneficial ownership transparency.

He said that the programme would enable stakeholders to address governance risks related to hidden ownership, and also maximise revenues from the extractive industries.

Robinson added that technical assistance would be delivered by EITI and other partners who could advise on and help improve frameworks and systems, and the use of high-quality ownership data through public registers. (NAN)

 

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Africa

Customs hands over illicit drugs worth N117.59m to NDLEA

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Customs hands over illicit drugs worth N117.59m to NDLEA

The Nigeria Customs Service (NCS), Ogun Area 1 Command, has handed over illicit drugs worth N117.59 million to the National Drug Law Enforcement Agency (NDLEA).

The Comptroller of the command, Mr James Ojo, disclosed this during the handing over of the drugs to Mr Olusegun Adeyeye, the Commander of NDLEA, Idiroko Special Area Command, in Abeokuta, Ogun, on Friday.

Ojo said the customs handed over the seized cannabis and tramadol tablets to the Idiroko Special Command for further investigation in line with the standard operating procedures and inter-agency collaboration.

He said the illicit drugs were seized  in various strategic locations between January and November 21, 2024, in Ogun State.

He added that the illicit drugs were abandoned at various locations, including the Abeokuta axis, the Agbawo/Igankoto area of Yewa North Local Government Area, and Imeko Afton axis.

Ojo said that the seizure of the cannabis sativa and tramaling tablets, another brand of tramadol, was made possible through credible intelligence and strategic operations of the customs personnel.

“The successful interception of these dangerous substances would not have been possible without the robust collaboration and support from our intelligence units, local informants and sister agencies.

“These landmark operations are testament to the unwavering dedication of the NCS to safeguard the health and well-being of our citizens and uphold the rule of law,” he said.

He said the seizures comprised 403 sacks and 6,504 parcels, weighing 7,217.7 kg and 362 packs of tramaling tablets of 225mg each, with a total Duty Paid Value of N117,587,405,00.

He described the height of illicit drugs smuggling in the recent time as worrisome.

This, he said, underscores the severity of drug trafficking within the borders.

“Between Oct. 13 and Nov. 12 alone, operatives intercepted a total of 1,373 parcels of cannabis sativa, weighing 1,337kg and 362 packs of tramaling tablets of 225mg each,” he said.

Ojo said the seizures had  disrupted the supply chain of illicit drugs, thereby mitigating the risks those substances posed to the youth, families and communities.

He lauded the synergy between its command, security agencies and other stakeholders that led to the remarkable achievements.

Ojo also commended the Comptroller General of NCS for creating an enabling environment for the command to achieve the success.

Responding, Adeyeye, applauded the customs for achieving the feat.

Adeyeye pledged to continue to collaborate with the customs to fight against illicit trade and drug trafficking in the state.

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Economy

Customs intercepts N30m worth of PMS in Operation Whirlwind

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The Nigerian Customs Service (NCS) on Friday said that it had intercepted 849 kegs of Premium Motor Spirit (PMS), worth over N30 million in retail price from Operation Whirlwind.

The Comptroller of Customs, Hussein Ejibunu, made this known during a news conference in Ikeja.

“Today, we have another seizure of 849 kegs of PMS containing 25 litres each. This translates to 30,225 litres with duty paid value at N30.225 million only at the NNPCL retail price.

“Today marks yet another success recorded by the operatives of Operation Whirlwind, Zone “A” Lagos/Ogun Axis.

“About five weeks ago, same PMS products were displayed before you here on the parade ground of the college where several seizures were made,” Ejibunu said.

“On this note, we wish to thank the National Security Adviser and the Comptroller-General of Customs for their unwavering support,” Ejibunu said.

The coordinator of the Operation Whirlwind said that two vehicles of means of conveyance were intercepted along with the seizures.

Ejibunu said that they evacuated 80 Jerry Cans each from a vehicle.

He assured the public that Operation Whirlwind remains steadfast in its efforts to clamp down on PMS smugglers, ensuring no room for their illegal activities nationwide.

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Africa

Ann-Kio Briggs Faults Tinubu for Scrapping Niger Delta Ministry

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Prominent Niger Delta human rights activist and environmentalist, Ann-Kio Briggs, has criticised President Bola Tinubu’s decision to scrap the Ministry of Niger Delta, describing it as ill-advised and detrimental to the oil-rich region.

Briggs expressed her concerns during an appearance on Inside Sources with Laolu Akande, a socio-political programme aired on Channels Television.

“The Ministry of Niger Delta was created by the late (President Umaru) Yar’Adua. There was a reason for the creation. So, just removing it because the president was advised. I want to believe that he was advised because if he did it by himself, that would be terribly wrong,” she stated.

President Tinubu, in October, dissolved the Ministry of Niger Delta and replaced it with the Ministry of Regional Development, which is tasked with overseeing all regional development commissions, including the Niger Delta Development Commission (NDDC), North-West Development Commission, and North-East Development Commission.

Briggs questioned the rationale behind the restructuring, expressing concerns about its feasibility and implications. “But that’s not going to be the solution because who is going to fund the commissions? Is it the regions because it is called the Regional Development Ministry? Is it the states in the regions? What are the regions because we don’t work with regions right now; we are working with geopolitical zones,” she remarked.

She added, “Are we going back to regionalism? If we are, we have to discuss it. The president can’t decide on his own to restructure Nigeria. If we are restructuring Nigeria, the president alone can’t restructure Nigeria, he has to take my opinion and your opinion into consideration.”

Briggs also decried the longstanding neglect of the Niger Delta despite its significant contributions to Nigeria’s economy since 1958. “The Niger Delta has been developing Nigeria since 1958. We want to use our resources to develop our region; let regions use their resources to develop themselves,” she asserted.

Reflecting on the various bodies established to address the region’s development, Briggs lamented their failure to deliver meaningful progress. She highlighted the Niger Delta Basin Authority, the Oil Mineral Producing Areas Development Commission (OMPADEC), and the NDDC as examples of ineffective interventions.

“NDDC was created by Olusegun Obasanjo…There was OMPADEC before NDDC. OMPADEC was an agency. Before OMPADEC, there was the Basin Authority…These authorities were created to help us. Were we helped by those authorities? No, we were not,” she said.

Briggs further described the NDDC as an “ATM for failed politicians, disgruntled politicians, and politicians that have had their electoral wins taken away from them and given to somebody else.”

Her remarks underscore the deep-seated frustrations in the Niger Delta, where residents continue to advocate for greater control over their resources and improved governance.

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