Nigeria accounts for bulk of $90b illicit outflow from Africa – ICPC

The Independent Corrupt Practices and other Related Offences Commission (ICPC)
The Independent Corrupt Practices and other Related Offences Commission (ICPC)

The bulk of an estimated $90 billion that leave Africa through illicit channels annually is from Nigeria, the Chairman, Independent Corrupt Practices and other related offences Commission (ICPC), Prof. Bolaji Owosanoye, has said.

He quoted this from a report in a speech at the commemoration of the 2019 African Union Anti-Corruption Day organized by the Bauchi State office of the ICPC.

He said the report indicated that while billions of dollars leave Africa yearly, the continent receives less than that amount in development assistance from Europe and America annually.

Owosanoye, who was represented by the Bauchi State  ICPC Commissioner, Abubakar Dutsinma,  said Nigerians joined their African brothers to create awareness on the menace of corruption and engender collective action against it.

He disclosed that Nigeria had stepped up the fight against corruption and illicit financial outflows through the ICPC and other anti corruption agencies.

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.

The  ICPC Commissioner in Bauchi State, Abubakar Dutsinma whose address was read by the Deputy Head, Investigation, Mohammed Haja, said the fight against corruption would only succeed if Nigerians rise and fight against the menace.

“We should therefore, make it a part of our civic responsibility by sending petitions to the ICPC, EFCC, Code of Conduct Bureau and Tribunal, Public Complaints Commission, the Nigeria Police and relevant agencies where we are dissatisfied with the services we receive from government and where we know that government officials are committing fraud on our resources,” he said.

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