Illicit Financial Flows
FG moves to unveil owners, shareholders of extractive companies
To Conserve $18b, Address Licensing, Contract Scams Challenges of Illicit Financial Flows (IFFs), hovering around $18b, being lost yearly, as well as growing contract scams in the extractive sector may by addressed soon going by attempts by the Federal Government to enforce the Extractive Industries Transparency Initiative (EITI’s) guideline on Beneficial Ownership register. The initiative,…
Oxfam urges criminalisation of illicit financial flows enablers
Oxfam, a confederation of 20 independent charitable organizations focusing on the alleviation of global poverty, has called on the National Assembly to enact a law that would totally criminalize actions of banks,....
Musa: Government aiding illicit financial flows
Illicit Financial Flows in Nigeria is an offspring of corruption that its existence is denied by a government that said that its biggest mandate is fighting corruption.
Enape: Nigeria fighting financial crimes with outdated approach
As the name implies, illegal financial flows are funds laundered by individuals or groups into another country or destination without the knowledge of the home country.
Nigeria loses $18b yearly to illicit financial flows
The Nigeria Extractive Industries Transparency Initiative (NEITI) has said $18 billion of revenue expected to address the nation's under-development is diverted yearly in illicit financial flows (IFFs). Presenting a report on "Averting Illicit Financial Flows in Nigeria's Extractive Industry" yesterday in Abuja, NEITI Executive Secretary, Waziri Adio, noted that over 30 per cent of the…