Financial Transparency Coalition

GFI and Task Force Director Raymond Baker speaks in Norway in an event sponsored by Publish What You Pay. He speaks about how the global shadow financial system creates tremendous human tragedy through $1.2 trillion per year of illicit financial flows, and how extractive industries transparency can help fix the system.

OSLO, Norway – Global Financial Integrity Director Raymond Baker delivered remarks today on the importance of transparency in the extractive industries at the “Global Investors for Financial Transparency” meeting in Oslo, Norway. Mr. Baker focused on the importance of country-by-country reporting requirements for oil, gas, and mining companies. Attendees included high-level Norwegian and EU elected officials, regulators, investors, and representatives of the Oslo Stock Exchange.

The Energy Security Through Transparency (ESTT) Act takes important steps towards reversing the resource curse by revealing payments made here and abroad to governments for oil, gas and minerals. The resource curse describes a phenomenon in which countries with rich natural resource endowments often end up with high rates of poverty, corruption, conflict, and poor governance rather than prosperity. Good governance in extractive industries contribute to a better domestic investment climate for U.S. businesses, increase the reliability of commodity supplies, promote greater U.S. energy security and thereby strengthen our national security.

Transparency International has released the following release highlighting their concern about the arrest of anti-corruption leader Wada Maman in Niger:

Transparency International (TI) is seriously concerned about the arrest in Niger, of Wada Maman, Board Member and Secretary General of TI chapter, the Association Nigérienne de Lutte contre la Corruption (ANLC).

The arrest, on Saturday 22 August, took place as Maman made his way across the Nigerien capital, Niamey. He was travelling from his home to the home of another ANLC member and transferring from a minibus-taxi to another taxi when members...