NEITI Board Set to Tackle Defaulting Companies

The Board of the Nigeria Extractive Industries Transparency Initiative (NEITI) says it will henceforth publish the names of extractive companies that fail to comply with its industry audit process and pursue appropriate legal actions against them in-line with the provisions of the NEITI Act 2007.

Chairman of the NEITI Board Dr. Kayode Fayemi, represented by a member of the Board Alhaji Gana Lantewa made this known at the end of its meeting which took place in December 2017.

The NEITI Board called on all covered entities (companies and government agencies covered by the audit) to ensure compliance with the NEITI audit process as mandated by the Act to avoid prosecution.

Furthermore, Alhaji Latenwa also stated that the Board will from now on publish summary of its decisions and allowances of Board members on the NEITI website.

He explained that the decision is to further promote the spirit of openness and transparency on Board proceedings, maintaining that since NEITI was set up to enthrone transparency, accountability and good governance in the management of extractive revenues, the governing Board has decided to lead by example.