The Nigeria Extractive Industries Transparency Initiative on Thursday called for an amendment to its law so as to allow it to double civil monetary penalties on mining, oil and gas companies that provide false information regarding volumes of production, sales and income.
The agency’s Director of Legal, Peter Ogbobine, who presented an overview of the proposed amendments to the NEITI Act, 2007 at a roundtable event in Abuja, explained that limiting civil sanctions to about N20m was inadequate given the value of transactions involved in the oil and gas industry.
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