The Senate has setup an adhoc committee to look into the audit report of the Nigeria Extractive Industry Transparency Initiative (NEITI).
This comes after the NEITI report alleged fraud in the Nigeria’s extraction industry to the tune of 12 billion dollars.
The Senate came up with this decision after listening to a presentation by the Executive Secretary of NEITI, Mr Waziri Adio, on Wednesday at the National Assembly in Abuja.
In his remarks, the Senate President, Dr. Bukola Saraki, announced that the committee has four weeks to submit its report to the upper legislative chamber.
He directed the committee to come up with a draft legislation that would help fight corruption and fraud over non-remittances to the Federation Account.
In his submission, Mr Adio gave recommendations on what should be done to stem the tide of the shortcomings experienced in the extraction sector.
The debate also featured the contributions of some legislators including a representative from Kogi State, Sen. Dino Melaye, and the former Governor of Akwa Ibom State, Sen. Godswill Akpabio.