Tag: Illicit Financial Flows
-
Nigeria loses $10bn to illicit financial flows – 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 Africa loses to Illicit Financial Flows (IFFs). Chairman of ICPC, Prof. Bolaji Owasanoye, said this during a virtual meeting to review a report on IFFs…
-
ICPC decries Nigeria’s loss to illicit financial flows
Prof. Bolaji Owasanoye, the Chairman of the Independent Corrupt Practices Commission (ICPC), says Nigeria is losing about 60 per cent of its financial income to illicit financial flows. Owasanoye said this when a delegation of the NAN led by its Managing Director, Mr Buki Ponle, visited the commission’s headquarters in Abuja. Illicit financial flow, which…
-
Nigeria lost $157.5b to illicit financial flows between 2003-2012 – Buhari
President Muhammadu Buhari has revealed that Nigeria lost an estimated US$157.5 billion to illicit financial flows between 2003 and 2012. Quoting from the 2014 Global Financial Integrity Report in his address to the High-Level National Side-Event organised by the African Union Development Agency and New Partnership for Africa’s Development (AUDA-NEPAD) and the Economic and Financial…
-
World's Poverty Capital and Illicit Financial Flows, By Henry Boyo
BY HENRY BOYO The Brookings Institution, a Washington based Economic think-tank, published a report earlier this year, titled “The start of a new poverty narrative.” The report was primarily based on the work of three experts associated with the ‘World Poverty Clock, an Economic Study Group launched, in 2017, to track trends in poverty reduction.…