The Nigeria Extractive Industries Transparency Initiative (NEITI) has identified Nigeria’s membership of Open Government Partnership as a timely platform to push for disclosure of beneficial owners of companies in the oil, gas and mining industries in the country.
The Executive Secretary of NEITI, Mr. Waziri Adio stated this while addressing a Consultative Forum on Open Government Partnership (OGP) in Abuja.
“Knowing how much companies paid in the form of taxes, royalty, rents etc. and how much government received is important, but not enough. Knowing those who are the real owners of the companies is critical to checking corruption, money laundering, drug and terrorism financing, tax avoidance and evasion,” Mr. Adio added.
Mr Adio called on the Federal Government to enact a special legislation that will compel companies in the extractive sector to make public the names and identities of their real owners.