How Illicit Financial Flows drain foreign reserve, spike inflation – ICPC chief
The Chairman, Independent Corrupt Practices and other related Offences Commission (ICPC), Prof. Bolaji Owasanoye, says Illicit Financial Flows (IFFs) are draining the country’s foreign reserves and revenue. Owasanoye said this…
AfDB inaugurates $5.9m project to stem illicit financial flows in Africa
March 10, 2023 The African Development Bank (AfDB), has inaugurated the African Financial Integrity and Accountability Support Project (AFIAP) to improve coordinated responses to illicit financial flows in African countries….
Illicit Financial Flows: Nigeria has recovered over $700 m stolen funds in the last 4 years – Malami
May 19, 2021 The Attorney General of the Federation and Minister of Justice, Abubakar Malami, has disclosed that over $700 million stolen funds from Nigeria have been returned to the country…
Nigeria accounts for 20% of Africa’s Illicit Financial Flows losses – ICPC
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says Nigeria accounts for 20 per cent or 10 billion dollars (N3.8 trillion) of the estimated 50 billion dollars that…
Financing in COVID-19 era: Nigeria wants IMF’s unused reserved assets applied to supplement member-countries’ foreign reserves
In an effort to address urgent financing needs and advance sustainable development of countries in the era of COVID-19 and beyond, President Muhammadu Buhari has called for the reallocation of…
Buhari, other African leaders call for collaboration in repatriation of stolen funds
President Muhammadu Buhari late Wednesday joined his Zambian and Ethiopian counterparts in calling for unity among African countries to demand unconditional repatriation of assets stolen from the continent. The…
Nigeria urges the international community to simplify the process of tracing, recovering, repatriating IFFs …As Nigeria accounts for 21% of the $80b losses annually
Africa is currently losing about 80 billion dollars annually through Illegal Financial Flows (IFFs), with Nigeria accounting for 17 billion dollars or 21 per cent of the figure, a UN…