NEITI-NFIU SIGN MoU TO MITIGATE EXTRACTIVE SECTOR FRAUD AND INFRACTIONS.

The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Nigeria Financial Intelligence Unit (NFIU) have signed a Memorandum of Understanding (MoU) to share information and data to check fraud and other financial malfeasance in Nigeria’s extractive sector operations.


The Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji and Mr Modibbo Haman Tukur, the Chief Executive Officer of Nigeria Financial Intelligence Unit made the commitment at the signing ceremony at the NEITI Secretariat in Abuja. The Agencies committed to collaborate on information and data sharing and joint preventive and remediation action on governance, process and corruption issues in Nigeria’s extractive sector.


Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji lauded the formalization of the NEITI/NFIU relations. According to him, “With the MoU finally signed, the next stage is to activate the contents of the agreement and this will happen in the next couple of months”. Dr Orji added that the “Essence of this partnership is underpinned in our partnering with NFIU to providing intelligence, information and data on the Extractive Sector industries that will aid Investigation into infractions that border on criminality in Nigeria’s oil, gas and mining sectors, especially in the areas where these activities undermine our national securities as revealed in the NEITI Audit Reports, Occasional papers and Policy Briefs, as well as regular capacity building, trainings and awareness workshops”, he explained.


The transparency Boss asserted that NEITI has the information and data on extractive sector operations and applauded the collaboration with sister agencies like the EFCC and the ICPC which he said is yielding dividends. “It gives us great comfort that there are sister agencies that are committed to national governance and development priorities like NEITI.


Dr. Orji affirms that the signing of the MoU is a “Fundamental step in our relationship with NFIU considering the strategic importance of the extractive sector to our economy and the extensive work NFIU is doing in the sector. This collaboration will strengthen our partnership and enable us to support each other and the Nigerian state”, he stated. The NEITI Executive Secretary explained that the agency is committed to the continuous and spontaneous disclosure of data and information that will ensure that more recoveries of unremitted funds into government coffers are made and support the validation of any disclosed data.

achieve the objectives especially in the area of knowing who actually owns Nigeria’s oil, gas and mining assets”, the Executive Secretary stated.
Dr. Orji affirms that the signing of the MoU is a “Fundamental step in our relationship with NFIU considering the strategic importance of the extractive sector to our economy and the extensive work NFIU is doing in the sector. This collaboration will strengthen our partnership and enable us to support each other and the Nigerian state”, he stated. The NEITI Executive Secretary explained that the agency is committed to the continuous and spontaneous disclosure of data and information that will ensure that more recoveries of unremitted funds into government coffers are made and support the validation of any disclosed data.

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