The Nigeria Extractive Industries Transparency Initiative (NEITI) has unveiled two documents designed to enhance transparency and accountability in the extractive industries. NEITI, which made this disclosure in a statement signed by its Communication Director, Dr. Orji Ogbonnaya Orji.
He was quoted as saying that the document seeks to outline Nigeria\’s strategy towards the implementation and fulfillment of Requirement 2.5 of the EITI standard which among other things, demands public disclosures of the real owners of oil, gas and mining companies that operate in Nigeria.
According to him, the roadmap provides comprehensive plans and actions designed to guide Nigeria in its implementation of beneficial ownership disclosure in the extractive industries. Orji said the strategy document also identified the institutional frameworks that are required for effective implementation of ownership transparency, clarity on definition of beneficial owners and explanation on thresholds for public disclosure required in the process.