Nigeria to lead the fight against illicit financial flows-ACBF

Elizabeth Christopher,Abuja

Nigeria has been urged to show leadership in tracking, stopping and getting back illicit financial flows that are robbing African countries of the resources needed to develop the continent.

The Executive Secretary of the African Capacity Development Foundation, Prof. Emmanuel Nnadozie, made the call while speaking at an international conference on promoting cooperation in tackling the problem in Abuja, Nigeria.

Prof. Nnadozie said, as an economic power house on the continent and as the most adversely affected by illicit financial flows, Nigeria need to be at the forefront of efforts to stop the menace.

 

“The consequences of illicit financial flows are severe as it robs the nation of resources needed for development, to successfully confront the menace, Nigeria must develop the capacity to track, stop and get back funds illegally taken out of the country” he said

To facilitate this, the country should strengthen leadership of all actors, including the executive arm of government, the legislature, law enforcement bodies, civil society organizations and anti-corruption agencies” he added.

Prof. Nnadozie called for the creation of awareness against illegal financial flows among all stakeholders in the country, especially among citizens stressing the that there is need for a change of the mindset from the prevailing belief that public funds are part of national cake to be looted.

Ime N