The Nigeria Extractive Industries Transparency Initiative (NEITI) has formed an alliance with other agencies to enforce sanctions and and ensure compliance with laws by firms in the extractive industry.
Other partners are the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Nigerian Financial Intelligence Unit (NFIU).
Speaking to reporters in Abuja, the Executive Secretary, NEITI, Orji Ogbonnaya-Orji, said the aim of partnerships was to ensure the enforcement of compliance and sanctions in the extractive sectors.
He explained that compliance had been a challenge to hindering the progress of extractive industries transparency initiative.
He said, “One of the challenges we have in implementing the EITI is compliance and enforcement. You are aware that reports are published in Nigeria and is usually (a challenge) to implement.
“This is because agencies just don’t think to do so. If there are no sanctions or incentives; sanctions for refusing to implement, incentives for doing well, everybody moves on and that is the bane of our society.”
