By NNENNA EZEAH
The Nigeria Extractive Industries Transparency Initiative (NEITI) has explained the reason for appointing indigenous auditors to audit the Nigerian oil and gas sector.

The extractive industry watch-dog said that its decision was borne out of the  need for stringent measures in carrying out the project so as to to ensure transparency and accountability.

Aside from this the Agency which is expanding its probe to the downstream oil sector for the first time noted that it is also important to get people who understands the shenanigans in the sector and can tackle it head-on without being deceived by operators.

Speaking at an official workshop on understanding audit template, the Executive Secretary of NEITI, Mrs. Zainab Ahmed, in her speech said the indigenous auditors knows the country very well and will carry out the project with all honesty, fairness, competence and integrity.

“For the first time firms of auditors and chartered accountants that are completely owned and managed by Nigerians are to handle the exercise”. Ahmed explained that the need of stringent measures cannot be over emphasized in carrying out the project. She encouraged the auditors to approach the assignment with every commitment, professionalism, depth, integrity, courage and dynamism.

She also called on companies to see this exercise as a sensitive national projects for which their support and participation is quite vital.

“As you are aware, the NEITI Act makes it compulsory, legal and mandatory and has also spelt out severe sanctions for non-compliance.”

Ahmed assured that NEITI will do nothing to jeopardize the corporate and business interests of companies and relevant government agencies covered by the audit.