The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have established a joint cooperation arrangement on anti-corruption issues in the extractive industries.

NEITI disclosed this in a statement by its Head, Communications and Advocacy, Obiageli Onuorah, in Abuja, on Wednesday.

She explained that under the joint cooperation arrangement, the ICPC would set up a special extractive industry desk while NEITI would feed the desk with information and data on extractive industry revenue process abuses, lapses, and corruption issues.

Mrs Onuorah added that the decision was part of the resolutions reached at a meeting of the two organisations led by the Executive Secretary of NEITI, Orji Ogbonnaya Orji, and the Chairman of the ICPC, Bolaji Owasanoye.

She quoted Mr Orji as saying that the joint cooperation became necessary to strengthen NEITI’s capacity to hold accountable covered entities that failed to respond positively and timely to remedial issues contained in NEITI reports.

Mr Orji welcomed the offer by the ICPC to support NEITI operations with enforcements.

He noted that it would ensure that adequate sanctions and consequences for financial misconduct in the extractive industries were meted out to erring covered entities.

Also, Mr Owasanoye welcomed NEITI’s initiative to seek partnership and collaboration in areas where NEITI needed help and support.

“I pledge the support of the commission under this joint cooperation arrangement.

“We will offer our support in the areas of investigation and prosecution, which we consider important steps toward checking corruption in the oil, gas, and mining sector,” Mr Owasanoye stated.

A memorandum of understanding would guide the joint cooperation arrangement between the two organisations.