The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) now have an arrangement to tackle corruption in the extractive industries.
Under the arrangement, the ICPC is to set up a special desk while NEITI is to feed the desk with information and data on extractive industry revenue process abuses, lapses and corruption issues.
The arrangement between the two organisations, NEITI said, would be guided by a Memorandum of Understanding (MoU).
A statement by the Head, Communications and Advocacy, NEITI, Mrs. Obiageli Onuorah, stated that these were part of the resolutions reached at a meeting of the two organisations, led by the Executive Secretary of NEITI, Dr. Ogbonnaya Orji and the Chairman of the ICPC, Prof. Bolaji Owasanoye.
Orji said the arrangement became necessary to strengthen NEITI's capacity to hold accountable, covered entities that fail to address issues or respond positively and timely to remedial issues contained in NEITI reports.
He welcomed the offer by the ICPC to support NEITI operations with enforcements, which will ensure that adequate sanctions and consequences for financial misconduct in the extractive industries are meted out to erring organisations.
Owasanoye expressed support for NEITI's initiative to seek partnership and collaboration in areas where such partnerships are needed.
"I pledge the support of the commission under this joint cooperation arrangement. We will offer our support in the areas of investigation and prosecution which we consider important steps towards checking corruption in the oil, gas and mining sector," Owasanoye stated.
He said he was proud of the job that NEITI had been doing, especially in collaborating with the National Assembly and leading civil society advocacy actors for the early passage of the Petroleum Industry Bill (PIB).