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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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Headlines

Commission, journalists partner to revamp water sector in Kaduna

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The Kaduna State Water Services Regulatory Commission (KADWREC) says it is partnering media practitioners towards revamping water services in the state.

Mr Dogara Bashir, the Executive Chairman of KADWREC, disclosed this on Monday at a one-day workshop organised for media practitioners on regulation of ‘Water, Sanitation and Hygiene’ (WASH) activities held in Kaduna.

Bashir said the commission was aware of the importance of the role media practitioners played in the society.

He stated that the workshop was to provide an avenue to liaise with them as important stakeholders on water supply and sanitation services in the state.

Bashir said: “As media practitioners, we believe you are a gateway to the citizens so, the workshop would acquaint you with some of the regulations already in place so that you can in turn transmit it to the public

“The state of water services in Kaduna State is in dire need of attention and the State Water Corporation and KADWREC were established towards addressing the seeming challenges.

“The commission is mandated to ensure better service delivery and regulation of water and sanitation services in the State.

“The idea is that once the regulations are developed, we send them to the State Ministry of Justice to gazette and then we get the state government to endorse and give the go ahead to commence the implementation of the regulations

“We intend to implement them fully come January, 2025 God willing, as we have embarked on advocacy activities having gone to zones 1 and 2 where we talked to traditional rulers, security agencies and the Judiciary.”

He disclosed that a special Court has already been attached to the commission by the Chief Judge of the State for service providers who may likely violate regulations.

The chairman further said that amongst the commission’s objectives include ensuring security, reliability and quality of service in the production and delivery of water to the consumers as well making regulations to control the sinking of boreholes.

Others included; maximising access to water services by promoting and facilitating consumer connections to distribution systems in urban and rural areas.

According to Bashir, they also include ensuring that regulatory decision-making has regards to all the relevant health, safety, environmental and social legislation applying to the water sector.

Bashir further said that the commission collaborate with the relevant state and federal agencies on water policies.

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Crime

2 ladies docked for allegedly obtaining money by fraud

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The police in Lagos have dragged two women, Mmesuma Ofunna, and Blessing Adimekwe, before an Ojo Magistrates’ Court in Lagos, over alleged obtaining money by false pretence.

Ofunna, 22, and Adimekwe, 25, were arraigned before the Magistrate, Mr L K J Layeni, on a four-count charge bordering on conspiracy, obtaining by false pretence, stealing and conduct likely to breach peace.

They each, however, pleaded not guilty to the charge.

The prosecutor, ASP Simon Uche, told the court that the defendants conspired with others now at large, to commit the offence on Oct. 26 at the Okokomaiko area of Ojo.

He alleged that they had obtained the sum of N70, 000 from one Faith Ahamefule, with a promise not to post her nude photo on social media.

The prosecutor alleged that the defendants later posted the nude photo of the nominal complainant on social media, knowing that their promise was false.

He alleged that they stole the N70, 0000, thereby conducting themselves in a manner likely to breach public peace.

The offence contravenes the provisions of sections 168(d), 287, 314, and 411 of the Criminal Law of Lagos State 2015.

The court granted the defendants bails in the sum of N500, 000 each, with two sureties each in like sum.

He adjourned the case until Jan. 8, 2025 for mention.

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Headlines

Driver jailed 6 months for attempting to steal a car

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A Jos Magistrates’ Court on Monday, sentenced a 37-year-old driver, Ahmad Umar to six months in imprisonment for attempting to steal a car.

The Magistrate, Shawomi Bokkos, summarily tried and sentenced the convict after he pleaded guilty to the charge.

Bokkos in his judgment, ordered the convict to pay an option of N30, 000 fine or spend six months in prison.

Earlier, the Prosecutor, Insp Ibrahim Gokwat, told the court that the case was reported on Oct. 10, at the Area Command Police station through a distress call by one Sydney Peacemorie the complainant.

Gokwat said the complainant parked his Toyota RAV4 in front of Access Bank and went inside to carry out some transactions, only to return to find the convict inside his car.

“The convict unlawfully opened the car and was in the driver’s seat when the complainant raised alarm and he was apprehended, but his accomplice escaped.

“The convict was severely beaten by a mob but was rescued by the police,” said Gokwat.

“The prosecutor said that the offence contravened the Plateau Penal Code Law.

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