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NEITI commends firm for audit filing compliance

Nigeria Extractive Industries Transparency Initiative boss, is being celebrated for the organisation’s sense of appreciation.

“Beyond knocking,  exposing and Critizising for not measuring up,the Waziri led entity has shown the way to reward,  encourage and inspire. “YOU NEWS learnt.

Universal Energy Resources Limited, a subsidiary company of Savannah Energy, says it received commendation from the Nigeria Extractive Industries Transparency Initiative for the provision of industry data requested during the data collection exercise for the 2019 oil and gas audit.

Universal Energy Resources Limited said in a statement on Wednesday that it was rated 100 per cent based on the two parameters for evaluation of participating companies, namely timeliness and completeness.

“We write to express our appreciation for your cooperation with NEITI over time and specifically in the recently concluded data collection exercise for the 2019 oil and gas audit,” NEITI was quoted as saying in a letter signed by its Executive Secretary, Waziri Adio, and dated October 14, 2020.

According to the statement, NEITI has produced the data submission compliance report for the oil and gas industry audit process since 2015.

It said the current report ranked participating entities in terms of compliance with the data submission requirements of the 2019 oil and gas audit process.

The President/Head of Regulatory Affairs, Savannah Energy, Bassey Umoh, said, “We are pleased with the commendation from NEITI, a highly respected organisation, over our performance.

“The letter from NEITI underscores our commitment to transparency, compliance with industry regulations and excellence in our operations. Universal Energy Resources Limited will continue to operate ethically and with integrity.”

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