He warned that transparency is simply not enough until it positively affects the standard of living of the people, saying, “countries with strong civil society groups tend to have less corruption, high integrity for the public good.”
Browsing: Corporate Affairs Commission
The committee said, “Many parastatals are unwilling to submit their audited accounts without being compelled and this is in violation of their establishment Acts. Some parastatals do not take accountability in public expenditure seriously.”
NEITI says its proposed law on Beneficial Ownership disclosure will increase transparency and accountability in the extractive industries. The agency is pushing for the enactment of a specific law that would compel companies operating in the extractive industries to abide by strict Beneficial Ownership disclosure.
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The stakeholders indicated that the processes that had led to the choices of past concessionaires have been faulty and have produced such groups as the Global Infrastructure Holding Limited (GIHL), which have not advanced the cause of industrialisation in the country.
“So if the person filling the form puts a wrong name there, we will hold him liable and there will be criminal offences against him for lying and putting the wrong name of somebody who is not the beneficial owner. So it is to fish out those surrogates and to bring out the beneficial owners so that we know who they are, explain how they got their monies to get those licenses. So that is the essence of beneficial ownership.”
“So, I don’t think government is contemplating, at least not at the Federal government level, presidency level, I do not think anybody is contemplating new taxes. But of course, we are looking at how our people don’t have to pay double taxes.”
05 October 2015, Abuja – The Nigerian National Petroleum Corporation (NNPC) Retail Limited has sued the Natural Network Petroleum and Gas…
…Summons NNPC, DPR over crude diversion Oscarline Onwuemenyi 15 April 2015, Sweetcrude, Abuja – The House of Representatives has resumed from…
