CSOs tasked on tackling illicit financial flows in Nigeria, Africa

The Africa Network for Environmental and Economic Justice (ANEERJ) has called upon Civil Society Organisations (CSOs) to focus on investigating Illicit Financial Flows (IFF) originating from Nigeria and other parts of Africa. The request was made during a two-day workshop in Uyo, titled 'Strengthening CSOs and Media Capacity to Contribute to the Fight Against Illicit Financial Flows.'

ANEEJ's Executive Director, Rev David Ugolor, highlighted the severe impact of IFF on Nigeria's economy, stating that the nation has lost significant funds that could have been allocated towards development and improving public services. A prominent example cited was the Benin-Sapele-Warri failed road project, which reportedly siphoned off N140 billion, causing immense hardship for the people.

Despite Nigeria's robust legal and institutional framework, including the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC), and the National Financial Intelligence Unit (NFIU), IFF persists. Ugolor emphasized the crucial role of CSOs and the media in combating this issue and ensuring that governments are held accountable for tracing illicit financial flows.

Philippe Pacaud, the Operations Coordinator for the SecFin Project, further stressed the importance of CSOs in collaborating to tackle money laundering, particularly given the use of illicit funds from Nigeria and Africa for terrorism and corruption. Hafsat Abubakar Bakari, the Director of NFIU, represented by Chinedum Odenyi, underscored the growing significance of CSOs in areas such as advocacy, research, public awareness, policy engagement, and community mobilisation, especially as Nigeria prepares for its 2027 evaluation of its anti-money laundering, counter-terrorism financing, and counter-proliferation financing framework.