The
extractive industry watchdog yesterday said the owners falsified their records
to hide their true identity. Its Acting Executive Secretary, Mr. Ogbonnaya Orji, who spoke in Abuja
during a meeting with delegates from the global Extractive Industries
Transparency Initiative, (EITI) led by the incoming Chairman, Mr. Fredrik Reinfeldt, and civil
society organisations, however noted that the issue of beneficial ownership as
contained in EITI’s standards, requires the identity of the true owners of oil
blocks.
He added
that records of the companies in the CAC are shrouded in secrecy and do not
provide correct information about the true owners. According to him, this has
been a challenge in implementing this specific requirement of EITI. He appealed
to EITI to understand the peculiarities in the Nigerian environment.
Mr. Orji
said: “Beneficial ownership requires us to explain or
provide information on the owners of certain oil blocks, but Nigeria is one
kind of country. That is why I say that nobody is going to suspend us. When you
think we are going down, we tend to rise up and surpass expectations.” (The Nation)
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