Apart from the United Kingdom, Netherland, Denmark, and Ukraine, the Executive Secretary of the Nigeria Extractive industries Transparency Initiative , Waziri Adio, said, Nigeria is the only country in Africa, Asia, and the Americas to achieve that historic milestone.
“Knowing who-owns-what, especially in a sector given to opacity, is a significant development. It is also a win-win. It is good for resource-rich countries like ours. It is good for the citizens of such countries. And it is good for legitimate businesses. He said most legitimate businesses also stand to benefit from knowing who they are doing business with, from reduced exposure to reputational risks, from having a level-playing field, and from improved trust in their operating environment.
The register, he said will be continuously updated as more information becomes available and will periodically be upgraded to allow for better user-interface. “It is in fulfilment of the commitment that President Buhari made at the London Anti-Corruption Summit in 2016. And it is in fulfilment of Nigeria’s commitment under the Open Government Partnership and to the EITI,” Mr Adio said.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Daily Trust - 🏆 13. / 51 Read more »