Debt: NEITI seeks to recover N2.76b

The Nigerian Extractive Industries Transparency Initiative (NEITI) is working with relevant agencies in a bid to recover N2.76 billion from some solid minerals mining firms.

The watchdog organization in its 2020 Solid Minerals audit report, said that over 2,000 firms failed to remit funds to the federation.

In a WhatsApp text message to reporters yesterday, NEITI Executive Secretary Dr. Orji Ogbonnaya Orji insisted that Civil Society Organisations should hold the mining firms and relevant security agencies responsible for recovering the fund accountable.

He opines that the essence of partnering with the agencies to embark on the debt recovery drive is to deploy the NEITI report as a revenue-generating means for the Federal Government.

“However, as part of its revenue monitoring and tracking responsibility, NEITI is working with government agencies to ensure that companies in default remit payments to the government.

“This is also consistent with our new focus to use NEITI reports as tools for revenue generation while pursuing reforms built on transparency and accountability in the sector,” he said.



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