REPORT: Nigeria Accounts For Bulk of $90b Illicit Outflow From Africa – ICPC
The Chairman, Independent Corrupt Practices and other related offences Commission (ICPC), Prof. Bolaji Owosanoye, has said that the bulk of an estimated $90 billion that leave Africa through illicit channels annually is from Nigeria. This report was made in a speech at the commemoration of the 2019 African Union Anti-Corruption Day organized by the Bauchi State office of the ICPC.
The ICPC chairman disclosed that as part of the efforts, the commission was presently tracking constituency projects across the country to ensure that they are properly executed. He added that tax frauds and illicit financial flow investigations are also being conducted by the commission while prosecution of corruption and money laundering cases are also going on to recover identified stolen wealth and return them to the country’s coffers.
He added that the fight against corruption would only succeed if Nigerians rise and fight against the menace.
Source (Daily Trust, July 15th, 2019.)