Illicit Financial Flows
Tobacco multinationals in Nigeria and other African Countries are contributing significantly to illicit financial flows in the continent mainly through tax avoidance and evasion, a new report said. The report titled 'Tobacco Industry and Illicit Financial Flows in Africa" was conducted by the Civil Society Legislative Advocacy Centre (CISLAC) in collaboration with Tax Justice Network…
12 Oct 2021
To check Illicit Financial Flows (IFFs) in Nigeria and other African countries, experts have said that government needs to intensify efforts on regulatory frameworks to curb such criminal acts.
19 Jul 2020
This depends on an enabling legal framework for independent leadership, implementation of strong ethical guidelines with standardised operational procedures...
13 Oct 2019
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,…
18 Jul 2019
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,....
9 Jun 2019
Nigeria, and indeed Africa is haemorrhaging in an organised crime, which is aided by the elites, multinational companies and modern technologies.
9 Jun 2019
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.
9 Jun 2019
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.
28 Feb 2019
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…