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15 Jun 2015

Vanguard (Nigeria)

Nigerian transparency body urges African Development Bank to entrench transparency in resource management

'NEITI urges AfDB to entrench transparency in resource management', 15 Jun 2015: The Nigeria Extractive Industries Transparency Initiative, NEITI, has called on the newly-elected President…[of the] African Development Bank, AfDB, Mr. Akinwunmi Adesina, to focus on entrenching transparency in the management and utilisation of revenues from natural resources in Nigeria and other African countries…Executive Secretary of NEITI, Mrs Zainab Ahmed…said: “Poor management of oil, gas and mining revenues is responsible for mass poverty in resource rich AfDB member countries in Africa. The AfDB at this time needs to pay greater attention to implementation of the Extractive Industries Transparency Initiative, EITI, in resource –rich member countries…through deliberate policy to provide support to remediation, civil society and human capacity development...” Ahmed described the election of Adesina as timely and an opportunity for a new chapter to commence in the affairs of the regional organisation…