The federal government, in collaboration
with the Nigeria Extractive Industries Transparency Initiative (NEITI), has
released a beneficial register which contains the list of the real owners of
oil assets and companies.
A website (bo.neiti.gov.ng) which
contained the list was unveiled in Abuja on Thursday.
According to Waziri Adio, NEITI’s
executive secretary, the website contains a list of the owners of 270 licences
in the mining sector, and the owners of 61 assets and 56 companies in the oil
and gas sector.
He also said the register, which
would be free for anyone to access through electronic means, would continuously
be updated as more information becomes available and would periodically be
upgraded to allow for better user-interface.
“Legitimate businesses and most
businesses also stand to benefit from knowing who they are doing business with,
from reduced exposure to reputational risks, from having a level-playing field,
and from improved trust in their operating environment.
“So let me say this upfront: this
beneficial ownership register is not against businesses. Rather, it is for the
good of businesses as it is for the good of countries, and it is for the good
of civil groups, the media, and individuals. So there is nothing for anyone,
especially anyone engaged in legitimate businesses, to be jittery about.
“In a short while, the beneficial
ownership register for the extractive sector in Nigeria will go live. At the
touch of a button, anyone with internet access can find out, for free, the
owners and the ownership structure of extractive assets that are in production
in Nigeria. These are the assets covered within the scope of the NEITI audits.
“In this free electronic
register, you will find the owners of 270 licences in the mining sector, and
the owners 61 assets and 56 companies in the oil and gas sector. The register
will continuously be updated as more information becomes available and will periodically
be upgraded to allow for better user-interface.”
Adio said the register is in
fulfilment of the commitment that President Muhammadu Buhari made at the London
Anti-Corruption Summit in 2016, and fulfilment of Nigeria’s commitment under
the Open Government Partnership and to the EITI.
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