How does the tool work?
The tool collects, systematizes and cross-references databases of PEPs, Beneficial owners and extractive sector licenses in order to identify inconsistencies or possible conflicts of interest in Nigeria.
Information of over 5023 PEPs, 69 PEP relatives, 5856 companies and 14123 Beneficial owners was cross-checked.
Sources of information
- Corporate Affairs Commission (CAC) Beneficial Ownership Register
- Nigeria Extractive Industries Transparency Initiative (NEITI)
- Citizen Science Nigeria
- Open Sanctions
- Shine your eye
- Nigeria Mining Cadastre Office
- Nigerian Upstream Petroleum Regulatory Commission
- Local newspapers
What is an Alert?
We define an alert as a potential conflict of interest or a case of irregularity in the information available.
There are 3 situations in which officials may present alerts:
Potential conflict of interest alert:
- If a PEP is a beneficial owner of a mining, oil or gas company registered in the Nigerian state. The alerts are generated by matching PEPs and beneficiaries names using Fuzzy Matching algorithm.
- If a PEP relative is a beneficial owner of a mining, oil or gas company registered in the Nigerian state. The alerts are generated by matching PEPs relatives and beneficiaries names using Fuzzy Matching algorithm.
- If a mining, oil or gas company has another company or a proxy who holds the shares indirectly as a beneficial owner. The alerts are generated by filtering beneficiaries by keywords related to a legal person.