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Tag: Waziri Adio

  • NEITI uncovers $20b recoverable revenues

    The Nigeria Extractive Industries Transparency Initiative (NEITI) has uncovered $20 billion recoverable revenues, its Executive Secretary, Waziri Adio, said yesterday.

    He spoke in Kiev, Ukraine at the ongoing 42nd meeting of the Extractive Industry Initiative (EITI) Board.

    Meanwhile, the International Board of EITI has ranked Nigeria for its ‘Satisfactory Progress’ in the implementation of its principles in the country’s extractive sector.

    This ranking is second highest in EITI implementation. The global body also applauded the country for using EITI process to shape reforms and improve transparency in the extractive sector.

    Adio said: “Through NEITI’s reports and interventions, Nigerians now know more about the operations of the sector, which despite low commodity prices, still remains the backbone of their economy.

    “Citizens, civic groups and the media are now better armed with information to ask probing questions and make informed contributions to governance

    “Over time, various governments have used information from NEITI’s reports to recover almost $3billion that would have ended up unpaid.”

    Nigeria’s pioneering use of multi-stakeholder governance to disclose data on its upstream extractives value chain was recognised by EITI Board.

    The country has now become the first Anglophone African country to have made satisfactory progress in implementing all the requirements of EITI Standard.

    It now faces the challenge of entrenching this transparency in routine government and company systems.

    Chair of EITI Board, Fredrik Reinfeldt, said: “Nigeria’s implementation of the EITI Standard had remained in many respects a model for implementing countries globally.

    “Apart from its scope, NEITI reports have shaped major reforms initiated in the sector, including those by the national oil company, Nigerian National Petroleum Corporation (NNPC). We hope the government will continue to use NEITI process to inform its policies for better governance,” he added.

    Over 15 years of implementing EITI standard, the NEITI has become an independent watchdog that holds stakeholders in the crucial hydrocarbons – and more recently solid minerals – sector to account.

    Since 2017, NEITI has disclosed key data on its allocation of licences, on the administration of oil and gas subnational transfers and on crude sales and other processes within the NNPC.

    Minister of Finance and EITI Board member, Zainab Shamsuna Ahmed, said: “The NEITI reports form the basis for reforms in the oil, gas and mining industry, as was laid out in the  2015 political campaign manifesto of the present administration.

    “Inspired by  EITI, the Nigerian government now conducts monthly routine reconciliations for all sectors, not just the extractives, which have increased government revenues,” she added.

  • NCDMB, Chevron, Mobil, others lead NEITI compliance ranking

    NCDMB, Chevron, Mobil, others lead NEITI compliance ranking

    The on-going Independent Audit of the Oil and Gas Industry covering 2015 by the Nigeria Extractive Industries Transparency Initiative (NEITI) has recorded 94% compliance by companies and relevant government agencies.
    Fourteen companies topped the ranking table with a maximum score of 100%. The companies are Chevron Nigeria Ltd, Consolidated, Continental, Eroton, Esso Exploration, Mobil Producing Nigeria Unlimited and Niger Delta Petroleum Resources.
    Other oil companies within the 100% compliance ranking include Nigeria Gas Company, Orient Energy, Star Deepwater Petroleum and Waltersmith Petroman. Remarkably, two government agencies, the Federal Inland Revenue Service (FIRS) and the Nigeria Content Development and Monitoring Board also recorded 100% compliance in the ranking.
    The watchdog organization’s Director of Communications, Dr. Orji Ogbonnaya Orji, made this announcement in a statement on Tuesday.
    The statement added that similarly, five companies namely, Shoreline, Statoil, Petrobas, Mid Western and ND Western, scored between 98% to 94% to book their respective places in the  top compliance ranking category.
    Twenty companies scored between 80% and 88% while twelve others recorded between 72% and 75% in an exercise industry experts have described as successful and innovative.
     The Compliance ranking report further showed that only four companies representing 6%, failed to make submissions before the deadline.  Of these four companies, two made submissions after the ranking deadline had elapsed and therefore scored zero ranking, while two others failed to comply at all.
    The criteria for the compliance ranking focused mainly on two major critical areas in the NEITI audit value chain. These are timeliness and completeness in submission of information and data requested by NEITI in the audit templates. While timeliness measured when the covered entities submitted the templates, the completeness considered how many of the applicable templates were submitted.
    Speaking on the ranking exercise, the Executive Secretary of NEITI Mr. Waziri Adio remarked “we decided to rank companies and government agencies covered by the NEITI audit process so as to incentivize timely and complete compliance’’.
    He  added “given that this is the first time we are doing this, we are very impressed with the compliance rate. We commend the high fliers and call for improvement from others. We want to see a situation where all the entities score 100% possibly by next year.’’
    The data collection and voluntary submission of information and data in NEITI/EITI Audit process is a major step in the independent audit value chain.  NEITI wishes to state that this exercise does not represent full compliance assessment with the audit process, as the audit is not yet completed. All entities will be further ranked in terms of their cooperation with the NEITI auditors, the accuracy of their data and level of reconciliation, among others.
    The process began on 2nd May 2017 when the audit templates were dispatched by NEITI to affected companies and relevant government agencies. This was followed by a workshop to enlighten all the companies and relevant government agencies on their roles in populating the audit templates.
    At that workshop, the entities were duly informed of NEITI’s plan to rank them in terms of compliance. NEITI also published the company compliance ranking procedure and the deadline in the national dailies. The deadline was later moved from June 1st  to August 3rd 2017. This became necessary to enable more entities complete the templates and return same to NEITI. During the ranking exercise, sixty-five (65) covered entities, made of up fifty-five (55) oil and gas companies and ten (10) relevant government agencies, participated.
    NEITI’s decision to carry out a compliance ranking for companies and relevant government agencies covered by NEITI process is to push the boundaries of implementation of EITI in Nigeria as provided for in the law and global standards.

     

  • Reps uncover $15bn unremitted oil, gas revenue

    Reps uncover $15bn unremitted oil, gas revenue

    House of Representatives Ad hoc Committee investigating allegedly missing 17 billion dollars crude oil and Liquified Natural Gas revenue, on Monday uncovered 15 billion dollars unremitted revenue into Federation Account.

    The trace of the alleged missing fund believed to have been stolen and diverted to a foreign destination, was contained in the two documents submitted by the Nigerian National Petroleum Corporation (NNPC) at the committee’s sitting.

    While responding to questions from members of the committee, Mr Rabiu Bello, NNPC’s Chief Operating Officer (COO), admitted that there were discrepancies in the documents.

    In his presentation earlier, Mr Jack Ukitetu, a Director in Central Bank of Nigeria (CBN), who represented the bank’s Governor, explained that the Accountant-General of the Federation approved and determined the money accrued to the Excess Crude Account.

    Ukitetu said that before 2006, the CBN collected the money on behalf of government’s agencies and remitted into the Federal Reserve Account in New York and charged 0.25 per cent.

    He, however, added that after 2006, the oil companies paid directly what was due to the government.

    On commissions being collected by the apex bank, the director told the lawmakers that the CBN collected 0.25 per cent via foreign exchange allocation and did not charge the Federal Government as deduction were made from central sales.

    Meanwhile, Mr Waziri Adio, Executive Secretary of Nigerian Extractive Industry Transparency Initiative (NEITI), who had accused NNPC and CBN of misleading the ad hoc committee, pleaded to withdraw the earlier documents submitted.

    He, however, pledged to submit “more damaging documents” on the alleged crude oil theft to the committee on Wednesday “ which will help in unearthing the unremitted revenue accrued from oil and gas but not remitted”.

    Speaking earlier, Chairman of the committee, Rep. Abdulrazak Namdas, said that the committee would not hesitate to submit its report to the House without the inputs of major Ministries, Departments and Agencies (MDAs) which failed to honour the committee’s invitation.

    Toward this, the committee mandated the CBN and NNPC to submit the audited report of the oil and gas account showing the remitted funds into the Federation Account between 2011 and 2014.

    The NNPC was also directed to submit the Bill of Laden relating to the 974,721 barrels of crude oil lifted on Oct. 20, 2011 and 961,963 barrels lifted on Oct. 10, 2011.

    It also included 974, 935 barrels lifted on July 9, 2011 and 974,953 barrels lifted on July 18, 2011 but were not declared.

    The lawmakers also requested for report of the reconciliation conducted by NNPC and Federal Inland Revenue Service (FIRS) as well as the list of oil off-takers for 2013 and 2014.

    Similarly, NNPC is expected to provide details of the companies that paid oil tax between 2011 and 2014 as well as the Letter of Credits (LCs) of all the monies paid into the Federation Account within the period.

  • NEITI urges FG to recover $21b

    NEITI urges FG to recover $21b

    The Executive Secretary, the Nigeria Extractive Industries Transparency Initiative (NEITI), Waziri Adio Tuesday called on the Federal Government to recover over $21billion unremitted fund disclosed by its independent report of the extractive industry.

    He made the call in Abuja, during an interactive session with the media, where he highlighted the policy brief, which focused on economic recovery and unremitted funds by the Nigerian National Petroleum Corporation (NNPC) and it’s upstream arm, Nigerian Petroleum Development Company (NPDC).

    According to NEITI, “findings from series of audits of the oil and gas sector carried out by the NEITI shows that NNPC and its upstream arm, NPDC, have failed to remit $21.778 billion and N316.074 billion to the Federation Account”.

    These according to the report, are amounts due from three main sources that includes: federation assets divested to NPDC and NPDC’s legacy liabilities payment for domestic crude allocation to NNPC and dividends from investment in Nigerian Liquefied Natural Gas Company (NLNG) paid to the NNPC, but NNPC has however withheld the said funds.

    These unremitted funds falls under the categories of the full payment for the 12 oil mining leases (OMLs) divested from the shell and Agip ventures. NNPC divestment of 55% of its stake in the shell JV valued at $1.8billion by the Department of Petroleum Resources (DPR).

    The audit also revealed that cash calls amounting to $552 million were erroneously paid on these divested assets by the National Petroleum Investment Management Services (NAPIMS), the investment arm of NNPC.

    The NPDC is said to have made a refund of $424 million to NAPIMS but not refunded to the federation account, the brief added that NPDC is yet to refund $148.278 million and 2.42 billion from the cash calls mistakenly paid to it.

    The brief also revealed that” unremitted revenues in this category relates to arrears of liabilities of taxes, royalties and levies. Leaving the amount owed by the NPDC at $5.531 billion and N72.435 billion.

    The brief disclosed that NNPC in its defence explained that ‘withholds DCA earnings to pay for downstream related operational costs and subsidies’, however, NEITI says there are serious doubts about such withholding as they regularly exceed actual subsidy costs.
    waziri called on the government to recover these money and use it for economic recovery and to put the economy on a sound and sustainable footing.

    He added that OMLs that have not been fully paid for, should be retrieved from the NPDC, revalued and auctioned so that the country can get proper value for the OMLs.

    The brief, in its action point, called on the federal government to investigate the status and use of NLNG dividends from 2004 to 2014 bad undertake criminal proceedings against anyone found wanting.

  • N1.19b NDDC projects duplicated, says NEITI

    N1.19b NDDC projects duplicated, says NEITI

    The Nigeria Extractive Industries Transparency Initiative (NEITI) has told the Niger Delta Development Commission (NDDC) Management Retreat that from its Fiscal Allocation and Statutory Disbursement Audit Report covering 2007-2011, the sum of N7.4 Billion allocated to member states of the Commission for grass root development projects in the respective states could not be accounted for while twenty two of such projects valued at N1. 19 Billion were duplicated.

    The watchdog organization said that it will partner with the commission to enthrone transparency and accountability in the operations of the agency.

    The Executive Secretary of NEITI, Waziri Adio gave the assessment in his presentation to the Retreat of the Commission held in Port Harcourt.

    Adio noted that the NDDC and NEITI were set up with similar mandates targeted at addressing the syndrome of resource curse, a situation where countries like Nigeria blessed with abundant natural resources find their larger population living in abject poverty as a result of over – dependence on the natural resource and mismanagement of revenues accruing from the resource.

    NEITI Monday’s statement that made this disclosure noted that the Executive Secretary, lamented that over the years public perception of NDDC was more of an agency with huge revenue resources but with little impact on the lives of the people of the Niger Delta.

    The Executive Secretary who was represented by NEITI’s Director, Communications, Dr. Orji Ogbonnaya Orji urged the new team at the NDDC to carry out a corruption risk assessment that will enable the agency develop a framework to strengthen its operations.

    The NEITI Reports presented to the Commission’s Retreat disclosed that a total of $1.98 Billion were remitted to the Niger Delta Development Commission (NDDC) between 2007 and 2014.
    This was in addition to the sum of N594 billion paid to the Commission in local currency during the same period.

    The breakdown of the remittances shows that NDDC received N594 Billion from 2007 to 2011 while $559 Million was paid to the Commission in 2012.

    NEITI Report findings also show that in 2013, the NDDC received $563 Million while in 2014, the sum of $865 Million were remitted to the Commission.

    The NEITI Executive Secretary urged the new Board and Management of the NDDC to carry out an independent project implementation audit, commit to good corporate governance and the principles of the global extractive industries transparency initiative.

    The Managing Director of the NDDC, Mr. Nsima Ekere, welcomed the emerging partnership between NEITI and the NDDC and pledged to use the NEITI Reports as major tools to enthrone accountability and corporate governance.

    He gave the assurance that the NDDC under the new Board and management will fully embrace the principles of the global Extractive Industries Transparency Initiative (EITI) to reverse the resource curse syndrome in the Niger Delta, through efficient resource utilization, corporate governance and project delivery.

    The NDDC Retreat was attended by members of the National Assembly, Ministers, the media, civil society and development partners.

  • Obasanjo, Yar’adua, Jonathan blew over N70trn oil money in 15 years – Adio

    Obasanjo, Yar’adua, Jonathan blew over N70trn oil money in 15 years – Adio

    Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Waziri Adio, Tuesday said that the administrations of Presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, and Goodluck Jonathan blew over N70 trillion earned from sale of crude oil and gas between 1999 and 2014.

    Adio disclosed this in his office during an oversight visit by the Senate Committee on Federal Character and Inter-Governmental Affairs.

    The NEITI boss insisted that unless the country developed a prudent way of expenditure, it is likely to be in for difficult times in the years to come.

    He noted that it was unfortunate that despite the huge earnings from sales of crude oil over the years, the country was unable to account for over $100 billion in the excess crude account.

    He urged the Federal Government to immediately develop a saving culture that would ensure slash on government spending to the interest of the country.

    Adio said: “Let me inform the committee that we discovered that between 1999 and 2014, the country spent over N70 trillion it received from oil and gas alone. That is a whole lot of money. What is sad is that it was spent without the country being able to show anything for it. I think it is quite unfortunate.”

    “For the sake of emphasis, however, I think if previous administrations had developed a culture for prudent management of resources, Nigeria ought to have over $100 billion saved in the excess crude account. So, going forward, it is necessary for government to think about saving a lot more, and do all it can as well to cut down on wasteful spending if the nation must make progress.”

    On the challenges confronting the agency, Adio told the committee that the country risked suspension from the global Extractive Industries Transparency Initiative (EITI), if the agency failed to complete its audit report by a given deadline which comes up in December this year.

    The NEITI boss also decried the paucity of funds in the agency due to late releases by the Ministry of Finance.

    He blamed lack of funds for the inability of the agency to conclude work on its audit report to the EITI.

    He noted that should Nigeria be suspended from the world body as a result of the agency’s failure to meet the December deadline for the submission of its audit report, the development would be an embarrassment on the image and reputation of the country.

    He said, “The agency has been battling with the issue of funding, and this is due to late releases. As a result of this challenge which we face, we have been unable to conclude work on the 2014 audit report.

    The deadline which we have been given is December, and this is due to the two year interval required to come up with one as stipulated by the world body. Failure to meet it may result in Nigeria’s suspension. That will be very embarrassing for us as a nation.”

    Vice Chairman of the Senate committee, Senator Suleiman Hunkuyi (Kaduna North), noted that the committee would require the effort of NEITI to close the communication gap between the agency and the upper chamber with a view to ensuring effective collaboration.

    He said that NEITI is the second agency of government among other that has not received its capital releases adequately met by the federal government.

    He described the development as “a misnomer.”

    Hunkuyi said, “All agencies have had releases between 45 percent and 65 per cent. It is a misnomer to find that your agency up till this time has got less than 30 per cent, a figure which falls short of the average releases.

    “Our focus now is to help you achieve greater heights, and this involves working with you and putting heads together so as to avoid a repeat of non-release of funds in the 2017 budget.”

     

  • Inadequate funding, NEITI’s major challenge – Adio

    Inadequate funding, NEITI’s major challenge – Adio

    The Nigeria Extractive Industry Transparency Initiative (NEITI) says inadequate resources and lack of political will pose major challenges to the agency’s operations.

    Mr Waziri Adio, NEITI’s Executive Secretary, said this on a visit to the News Agency of Nigeria (NAN) in Abuja.

    Adio said that inadequate resources had hindered the smooth operations of NEITI and urged the Federal Government to assist the agency impact more on the economy.

    “We have a number of challenges; one is that we do not have enough resources to do all the things we should be doing.

    “If you remember, people accuse us that our reports do not come on time.

    “Not because we don’t want to do them on time but because the resources are not enough and they do not come on time and they do not come as at when due.

    “We keep engaging with government to see that this is very important, because some of the reports have also led to government recouping some money.

    “Through our work government can actually access more resources and through our work government in the past had recouped some resources.

    “So government should empower us more to make sure that we are able to do more and provide more value for government.’’

    Adio said lack of political will on the parts of leaders was also a major hindrance on the operations of NEITI.

    “Everything rises and ends on political will, if you do not have the backing of the government of the day, there is a limit to how far you can go.

    “But if you have a government that wants to do the right thing and gives you protection to do your work, then we can do much more in the interest of the country.

    “And I want to believe that we have such a government in place, because this government as I said before was elected on the platform to grow the economy, fight insecurity and corruption.’’

    The executive secretary said NEITI was working in line with the present administration’s commitment to transparency and accountability in the oil sector.

    He said the agency was also carrying out reports to highlight ways of generating more revenue for government from the oil sector as well as taking advantage of the vast opportunities in the solid minerals sector.

    Adio expressed optimism that the present administration would grant NEITI all the necessary support it requires to achieve its mandate.

    He also pledged the agency’s commitment to create more value for the government by establishing reforms and avenues to recoup misappropriated moneys.

    He said the agency would also assist government in sectors in need of reform to boost the economy.

  • NNPC withholds another $12.9b in eight years – NEITI

    NNPC withholds another $12.9b in eight years – NEITI

    The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio, on Friday said the Nigerian National Petroleum Corporation(NNPC) has withheld another $12.9billion revenue.

    He said the revenue came from the Nigeria Liquefied Natural Gas between 2005 and 2013.

    He said some infractions have been committed which require the prosecution of the masterminds by anti-graft agencies.

    But the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, said the agency will bite if NEITI wants it to do so.

    According to a statement issued by the Head of Media and Publicity of EFCC, Mr. Wilson Uwujaren, the NEITI Executive Secretary spoke on the stench in the oil sector when he visited the EFCC chairman.

    He said NEITI might report serious infractions to the EFCC.

    He said: “The 2013 Oil and Gas Audit Report revealed that some government agencies like NNPC and its subsidiaries withheld $3.8billion and N358billion.

    “Another revelation is that $12.9 billion was withheld by NNPC from NLNG between 2005 and 2013.”

    He expressed the readiness of his agency to collaborate with the EFCC in tackling corruption by reporting serious infractions that violate the country’s constitution.

    “We have an Act that criminalise certain behaviours. If people do not cooperate with us, if people do not give us information on time, they are liable to be prosecuted, fined and jailed.

    “But, we have existed for 12 to 13 years and nobody has ever been tried under our Act and that is not to say some infractions would not have occurred.”

    He said a major challenge confronting NEITI is the lack of power to prosecute.

    He said NEITI only carries out audit.

    “There are a lot of findings that have come up over time about monies missing, about collusion between operators and government agencies, about possibility of money laundering, about all kinds of economic crimes that we are not in a position to push forward,” Adio said.

    He said deepening relationship with EFCC would help send signals to all the agencies and companies that relate with NEITI to cooperate with it.

    Responding, Magu, assured the delegation that the commission was prepared to give a quick response in areas of need and to improve on the existing relationship between the two agencies.

    “Where you want us to use our teeth to bite, we would readily do so,” Magu added.

  • EFCC constitutes task force on NEITI report

    The Economic and Financial Crimes Commission (EFCC) on Friday  set up a joint task force on the recently released audit reports of the Nigeria Extractive Industries Transparency Initiative (NEITI).

    Membership of the task force is drawn from NEITI and the EFCC.

    The task force is to study the reports and identify areas where financial crimes have been committed against the nation.

    According to a statement issued by NEITI’s Director of Communications, Dr. Orji Ogbonnaya Orji, the Chairman of the EFCC, Ibrahim Magu, made the decision in Abuja after receiving copies of the reports from the NEITI Executive Secretary, Waziri Adio.

    The statement noted that Magu said  it is no longer acceptable for NEITI to publish reports and agencies, companies and individuals that had clearly committed financial crimes as disclosed by the reports are left to go without sanctions.

    “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.”

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

    Presenting the report, the NEITI Executive Secretary lamented that while NEITI has been churning out series of reports since 2004, it is regrettable that no one has either been tried or convicted for infractions on the NEITI Act.

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

     

  • NEITI boss declares assets, says I have N3.8m in my account

    NEITI boss declares assets, says I have N3.8m in my account

    The Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio has declared his assets with N3.8million and $821 US in his account.
    His assets and that of his spouse are however worth N99,417,894.
    He said he has closed his foreign accounts which he operated at different times as a student or a fellow in the United States.
    Adio, who made the disclosures in a statement on his Assets Declaration Form, said he opted for a public declaration of his assets in order to practice what he preaches.
    He said he believes that “Public Officers should declare their assets publicly”
    The  statement said: “After 23 years of working in the media, in an international development agency, and as a consultant and an entrepreneur, I own the following assets declared in my Form CCB 1:
    “As at 30 March 2016, I had a total of N3, 810, 206 in accounts with Access Bank, Standard Chartered Bank and United Bank for Africa.
    • As at 30 March 2016, I had a total of $821 in domiciliary accounts in Access Bank and UBA.
    “The foreign accounts I operated at different times as a student or a fellow in the US are all closed.
    “One unit of a 3-Bedrooom bungalow in an estate in a suburb of Abuja bought in 2011 at N17.5m, renovated and currently valued at N25m;
    ” Two units of 3-bedroom flats built over 13 years (between 2000 and 2013) in Lambe, Ogun State, currently valued at N12m.
    ” Two plots together measuring 1000 sqm demarcated by a dwarf fence in Iwo, my hometown in Osun State, bought in 2013, valued at N700, 000;
    “Yet-to-be-located 600 sqm in a disputed estate in Sabon-Lugbe, Abuja bought in 2011 at N750, 000.
    “I have beneficial interests in the following private companies that I co-founded: Think Tank Consult Limited; SW4 Media Limited, Publishers of Metropole Magazine; Elan-Metro Foods Limited and the Cable Newspaper Limited, Publishers of TheCable online newspaper
    “I also have equity in two non-operational companies: Papyrus Media Limited
    • Bamisoro Media Limited
    “My vehicles are  VW Passat bought new in 2011 at N5.8m and BMW X5 2008 Model bought second hand in February 2016 at N3.3m
    “Household Furniture/Items: 9 KVA Hyundai Diesel Generator bought at N850, 000; 3 KVA Sunkam Inverter bought at N450, 000 and other household furniture, electronics, exercise equipment, artworks and others valued at N3.5m
    “Shares in Publicly Quoted Companies: “I have shares in Skye Bank, Sterling Bank and Staco Insurance, bought in 2008 at N2.5m now presently valued at N296, 610.
    “Assets of Spouse and Children: My wife runs two businesses: a salon and a bakery, with equipment and distribution vehicles all valued at N28.5m.
    “We have three children under 18 and they do not own any assets.”
    The NEITI Executive Secretary explained why he decided to declare his assets publicly.
    He said: “As required by paragraph 11 of the 5th Schedule of the 1999 Constitution and Section 15 of the Code of Conduct Bureau and Tribunal Act, I have submitted Form CCB 1. My Declarant ID is FGAO: 000512. Form CCB 1 is the Assets Declaration Form for Public Officers, which all elected and appointed public officers are mandated to submit to the Code of Conduct Bureau (CCB) on assumption of and departure from office. The CCB is empowered to verify the claims made in this form.
    “In the main, this is to ensure that public officers do not anticipatorily over-declare their assets and that they do not use public office to corruptly enrich themselves.
    “Asset declaration is thus not designed to be another perfunctory, box-ticking exercise. It is primarily a transparency and accountability instrument.
    “This is a potentially powerful sunshine mechanism that could help, in very practical ways, limit the incidence of corruption, one of the major challenges of our country. “However, the potency of this tool is gravely diminished, in my view, by the fact that asset declaration is made a secret affair and the public, on behalf of whom people are elected or appointed to hold public offices, is not given a viable role in the verification of the assets declared and is denied the fundamental right to know. This is another case of the ‘missing public.’ And it needs fixing.
    “Therefore, as we rightly seek new beginnings for our country, we need to reinsert and reassert the public in this transparency and accountability process by lifting the veil of secrecy from the declared assets of our public officers.
    “This I believe: all public officers should be made to declare their assets publicly; otherwise the impact of the assets declaration exercise is successfully neutered.”
    Adio said he also chose to emulate President Muhammadu Buhari, the late President Umaru Yar’Adua and ex-Governor Kayode Fayemi.
    He added: ” Following the notable examples of President Muhammadu Buhari and Vice President Yemi Osinbajo, the late President Umaru Yar’Adua, Dr. Kayode Fayemi (as governor of Ekiti State), Senator Shehu Sani, Dr. Joe Abah (the DG of the Bureau of Public Service Reforms) and Dr. Chidi Anslem Odinkalu (former Chairman of the National Human Rights Commission), I have chosen to release the highlights of my assets declaration form for four reasons.
    “One: though public declaration of assets is not mandatory, there is nothing in the Constitution or the Code of Conduct Bureau and Tribunal Act that criminalises or disallows or forbids public officers from publicly disclosing their assets.
    “Two: I have stated on record many times that public officials not publicly disclosing their declared assets turns the assets declaration exercise into a hollow ritual, most recently through an article I wrote as a columnist on the back-page of THISDAY on 7 September 2015, titled “Issues around Assets Declaration.” It is time to practice what I preach(ed).
    “Three: I believe, following in the immortal words of Mahatma Ghandi, that we should be the change we seek and, when called upon, we should strive to lead others by leading ourselves first, through the powerful force of personal example. “And four: as someone appointed to head NEITI, an organization saddled with the weighty responsibility of promoting transparency and accountability in our extractive sector, I and my colleagues need to demonstrate that we are not protected from the searchlight that we beam on others, that we are not excused from the standards that we hold others to.
    “We must be ready to push the boundaries of transparency and accountability, even and especially with ourselves. And we must be ready to embody and model the values that give meaning to and legitimize our important and necessary work of shining light in dark places and holding others to account,” Adio stated.