NEITI, CAC to check tax evasion, terrorism funding
By Eyo Nsima
THE Nigeria Extractive Industries Transparency Initiative, NEITI, and the Corporate Affairs Commission, CAC, have come together to tackle tax evasion in Nigeria.
In a statement obtained by The Daily, https://thedaily-ng.com, the Head, Communications, and Advocacy, Obiageli Onuorah, NEITI, said the Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji described the CAC “as a dependable ally in Nigeria’s implementation of the global EITI’s beneficial ownership disclosure requirements.
“The CAC has the institutional responsibility of keeping the register of all companies doing business in Nigeria while NEITI sits on information and data on oil assets, key players and investors in the extractive industries. We, therefore, need each other to build a consolidated database on beneficial ownership disclosures.
“The knowledge reposited in the two agencies makes it important for us to work together to ensure that the commitment made by Nigeria to the international community on effective implementation of Beneficial Ownership in the extractive industry is realized”.
“Power to hold government and companies doing business in Nigeria accountable. The exclusion of information about our natural resources was at a huge cost to the Nigerian economy and affected Nigeria’s optimization of revenues from its natural resource wealth. With your cooperation and reputation, we can help our government fight the resource curse which is the reason the EITI and NEITI exist.”
The Registrar General of the Corporate Affairs Commission, Alhaji Garba Abubakar also stated: “the CAC is already working on comprehensive beneficial ownership register that will be a global standard.
“This information became a requirement by the CAC for purposes of beneficial ownership information in public interest for anyone who needs it and at no cost to other government agencies”.
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