FG gives operators ultimatum to name oil well owners

The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has given a seven-day ultimatum to all lease and licence holders in the Nation’s oil and gas sector to unveil the real owners of their companies.

Newsmen reports that the directive was signed by NUPRC Chief Executive, Gbenga Komolafe on Thursday.

He stressed that the commission would work with stakeholders to implement the directive.

Komolafe stated, “At the NUPRC, we are implementing the beneficial ownership reporting system, as it is a statutory requirement, which demands full disclosure of valuable ownership information”.