EFCC Warns Oil Firms Against Ignoring NEITI Audit, Vows Full Investigation

The Economic and Financial Crimes Commission (EFCC) has issued a warning to oil and gas companies to desist from ignoring this year’s Nigerian Extractive Industries Transparency Initiative (NEITI) Industry Audit process.

This warning was issued by the EFCC chairman, Olanipekun Olukoyede, in a statement shared by the NEITI Communications & Stakeholders’ Management Assistant Director, Chris Ochonu.

While presenting the 2022-2023 NEITI oil and gas financial audit reports in Abuja, the EFCC boss emphasized that the agency will launch a full-scale investigation after the audit process.

Olukoyede noted that oil firms who ignore the NEITI audit would be making a costly mistake as necessary disciplinary action would be taken against them.

According to the EFCC, the 2022-2023 audit report on the Oil and Gas sector is with the Commission.

Furthermore, Olukoyede announced that the commission remitted ₦1 billion naira to the beneficiary agency of the government following the findings of the NEITI Report.

After the assessment of the 2022-2023 oil and gas report, Olukoyede commended NEITI for its credible data and reaffirmed the agency’s support for the initiative.

Speaking on behalf of the NEITI National Stakeholders Working Group (NSWG), Dr Erisa Danladi, called for the participation of civil society and the media.

Danladi urged them to use the information and data in the 2022 and 2023 audit reports as tools for engagements and investigation.

On his part, the Executive Secretary of NEITI, Dr. Orji Ogbonnaya conveyed NEITI’s thanks to the Federal Government for its continued support, particularly through the non-interference policy of President Bola Tinubu.

He announced the launch of a Data Center by the NEITI which will allow easy access to information and data on the nation’s extractive sector by stakeholders, especially civil society, the media, extractive industry companies, government agencies, and the legislature.

He revealed that the data would be stored in aggregated and disaggregated formats on the Data Centre which he described as a warehouse for all extractive industry data.