Business
Extractive Sector: NEITI, EFCC To Sign Pact
The Nigeria Extractive
Industries Transparency Initiative (NEITI) is to sign a pact with the Economic and Financial Crimes Commission (EFCC) in a bid to enforce accountability in the extractive sector.
The Director of Communications of NEITI, Dr Orji Ogbonnaya Orji, made the disclosure in Lagos recently.
He was speaking at a capacity building training for 25 media practitioners, sponsored by the Natural Resource Governance Institute at the Pan-Atlantic University in Ibeju Lekki.
Orji said that NEITI was currently interfacing with the EFCC and other anti-graft agencies with a view to prosecuting economic offenders in the extractive sector.
“We have gone to borrow teeth from the EFCC so that we can bite companies found wanting in accountability and transparency issues,’’ he asserted.
Orji said that the management of NEITI and the EFCC were fashioning out a memorandum of understanding on the modalities for a smooth working relationship between the two bodies.
The NEITI chief said that to ensure accountability and transparency in the oil and gas sector, there was need to partner the anti-graft bodies to track funds accruing to government.
“To ensure that anyone found guilty of misappropriating the country’s oil revenue is prosecuted, NEITI is partnering with the EFCC to study the audit reports of companies to identify areas where financial crimes have been committed against the nation.
“The extractive industry remains the backbone of the Nigerian economy, which necessitates NEITI’s efforts toward ensuring accountability and transparency in the sector.’’
He re-stated that in the 2013 audit report of the extractive sector, the Federal Government’s total revenue flows to the federation account stood at $58.07 billion while its revenue losses stood at $3.8 billion.
Orji said that 41 oil and gas companies and 16 government agencies were involved in the 2013 audit report.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
News4 days ago
FG Unveils AI Model For Local Languages
-
online games3 days ago
The Benefits of Family Digital Libraries
-
Sports5 days ago
Nathaniel hopes to inspire young Nigerians after feat
-
Oil & Energy4 days ago
Oil & Gas Growth: NCDMB Tasks African Nations On Unity
-
Politics4 days ago
Kwankwaso Agrees To Rejoin APC, Gives Terms, Conditions
-
Maritime4 days ago
Minister Tasks Academy On Thorough-Bred Professionals
-
News4 days ago
You’re My Steady Confidant, Tinubu Celebrates Wife At 65
-
Sports5 days ago
Nigeria Cricket Federation Re-Elects Akpata President