The Federal Government will unveil a beneficial ownership register for the oil, gas and mining industry on 12th December this year.
The beneficial ownership register is expected to contain information on the real owners or controllers of companies in the oil, gas and mining sectors.
The Executive Secretary of the Nigerian Extractive Industries Transparency Initiative (NEITI) Mr. Waziri Adio revealed this yesterday in Abuja after a meeting with the Head of International Secretariat of the global Extractive Industries Transparency Initiative (EITI), Mr. Mark Robinson who was in Abuja on a working visit.
Mr. Adio was represented by the agency’s Director, Communications and Advocacy, Dr. Orji Ogbonnaya Orji.
The EITI which Nigeria is a member requires that by January 1, 2020, all its member countries ensure that companies that apply for or hold a participating interest in oil, gas or mining license disclosed their beneficial owners (real owners of the companies).
EITI requires that the information be publicly available and free of charge by January 2020.
The requirement sparked reforms in 20 countries that are now working on establishing public registers.
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