The Economic and Financial Crimes Commission (EFCC) has set up a Joint Task Force to implement the 2013 Audit Report recently released by the Nigeria Extractive Industries Transparency Initiative (NEITI).

NEITI’s Director of Communications, Dr Orji Ogbonnaya Orji, said in Abuja on Friday that EFCC Chairman, Mr Ibrahim Magu, announced this after receiving copies of the report from the NEITI Executive Secretary, Mr Waziri Adio.

Members of the task force were drawn from NEITI and the EFCC.

It will study the report and identify areas where financial crimes have been committed.

Orji quoted Magu as explaining that it was no longer acceptable for NEITI to publish reports and agencies, companies and individuals that clearly committed financial crimes as disclosed by the reports were left to go scot-free.

“I have heard people say that NEITI has no teeth to bite, but today I assure you that by our renewed joint collaboration, the EFCC will provide NEITI with the required teeth to bite,’’ Magu said.

The EFCC chairman urged members of the task force to carry out the assignment with utmost diligence by developing an action plan and make recommendations for immediate action by the commission.

Presenting the report earlier, Adio said NEITI had been churning out series of reports since 2004.

According to Adio, it is regrettable that no-one has either been tried or convicted for infractions ofn the NEITI Act.

He called on the EFCC to step in and help NEITI enforce required sanctions.

He said by the NEITI–EITI process, information and data contained in the reports were based on facts voluntarily provided and signed up by the covered entities during the audit process.

Adio added that the recent report on oil, gas and solid minerals for the period 2013 highlighted several issues that required full scale investigations by the EFCC.

Author: Cerebral Lemon