FG inaugurates NEITI’s governing board

The gain was buoyed by buying interests in Dangote Cement (+7.8 percent), FBNH (+3.5%) and Zenith (+0.8%).

The All Share Index rose by 1.7% to 38,585.52 points while Year to date (YTD) loss improved to -4.2%.

Trading activities were mixed as volume traded fell by 58.3% to 192.9m units while value traded rose by 41.3% to N1.7bn.

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Performance across sectors under our coverage was bullish as four indices gained, the

The federal government has inaugurated the governing board of the Nigeria Extractive Industries Transparency Initiative (NEITI) to enhance the smooth running of its administration.

Mr Boss Mustapha, Secretary to the Government of the Federation (SGF), who performed the inauguration on Thursday in Abuja, congratulated the members, saying their appointment as NEITI board members was based on individual merits and track records.

“Your appointment and inauguration, which is taking place here today, is another practical demonstration of President Muhammadu Buhari’s commitment to transparency and accountability in the management of our economic resources.

“And especially, given the mandate and objectives of Nigeria’s NEITI,” Mustapha said.

Mustapha said that the present administration was passionate about the NEITI process because it served two key agenda of the administration.

According to Mustapha, transparency and accountability in the management of the nation’s resources is equally central to the anti-corruption agenda of Nigeria.

He said it was therefore, irrevocably committed to the implementation of NEITI in the oil, gas, and mining industries.

The SGF, therefore, tasked NEITI board members to ensure that the agency continued to preserve the virtues for the benefit of the present and for future generations of Nigeria.

Responding, Mr Olusegun Adekunle, a retired Permanent Secretary, office of the SGF, thanked President Muhammadu Buhari for considering them worthy for the appointment.

Adekunle assured that the board would not disappoint the president in the course of carrying out its assigned duties.

The board also has a representative of the international oil companies (IOCs) among others. (NAN)