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NEITI says Owners of Nigerian oil, mining assets will be unveiled in 2019

The Nigeria Extractive Industries Transparency Initiative (NEITI) has set December 31, 2019, for the unveiling of a comprehensive register of beneficial owners of oil, gas and mining companies in Nigeria.

The Executive Secretary, NEITI, Dr. Waziri Adio, disclosed this in Abuja at a one-day stakeholders’ engagement meeting on the implementation of the beneficial ownership roadmap in extractive industries in Nigeria.

Adio, stated that the move would help entrench transparency and accountability in the extractive sectors, saying with such information, Nigerians would begin to know the real persons having significant influence directly or indirectly in the nation’s extractive sectors.

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He pointed out that hidden ownership could be used to fuel terrorism financing, money laundering, and drug financing, noting that such act could benefit only the minority elite in the country.

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