The data to be jointly launched by the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Corporate Affairs Commission (CAC), was expected to further push the country’s preparedness to shine the light on the opacity in the extractive industry.
A statement by the Deputy Director/Head Communications and Advocacy of the initiative, Obiageli Onuorah, noted that when ready, the register would be merged with the CAC register of companies in the country.
“The NEITI executive secretary explained that under the joint inter-agency collaboration with the CAC, the NEITI beneficial ownership register filled with facts, information and data on who owns what in the oil, gas and mining sectors will merge with CAC beneficial ownership portal that covers all registered companies in Nigeria.
Addressing a special panel on beneficial ownership at the conference in Egypt, the NEITI executive secretary identified political will, stakeholders’ consultation, institutional and citizens’ ownership as well as civil society partnership as critical success factors that have led Nigeria’s efforts.
The statement further revealed that Nigeria had submitted a draft resolution to the United Nations Convention Against Corruption on the use of beneficial ownership information and data disclosure to identify, track, recover and return assets looted or stolen from developing countries.
It explained that the draft resolution was submitted jointly with the support and partnership of five other developing countries , including Kenya, Pakistan, Peru, and Saudi Arabia.
“The attorney general informed the UN Convention that Nigeria has put in place institutional structures and legislations to protect Nigeria’s resources.
“The minister conveyed Nigeria’s appeal to the conference of the UN convention against corruption to consider the draft resolution on its merit in view of its strategic importance in recovering looted assets from developing countries,” the statement noted.
“The UN Conference is expected to ratify the global anti-corruption strategy for adoption by over 150 countries attending the conference,” NEITI stated.
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