The Africa Network for Environmental and Economic Justice (ANEEJ) has urged Civil Society Organisations (CSOs) across Nigeria and Africa to intensify efforts to investigate and expose illicit financial flows (IFFs).
ANEEJ Executive Director, Rev. David Ugolor, made the call in Uyo on Wednesday during a two-day workshop themed, “Strengthening CSOs and Media Capacity to Contribute to the Fight Against Illicit Financial Flows, IFFs.”
Ugolor described illicit financial flows as a major threat to Nigeria’s economic stability, warning that the country had lost substantial funds that could have been channelled into economic development and improved public services.
He said ordinary Nigerians were bearing the consequences of the diversion of public resources.
Citing the Benin-Sapele-Warri road project, Ugolor alleged that a contractor had carted away about N140 billion, leaving residents to suffer hardship as a result of the failed project.
He stressed that CSOs and the media must work alongside agencies such as the Economic and Financial Crimes Commission (EFCC),
Independent Corrupt Practices and Other Related Offences Commission (ICPC), and Nigeria Financial Intelligence Unit (NFIU) to tackle the menace.
Ugolor expressed optimism that participants at the training would apply the knowledge gained to demand greater accountability from governments and support efforts to trace illicit funds.
Also speaking, Operations Coordinator for the SecFin Project, Philippe Pacaud, called for stronger collaboration with CSOs to combat money laundering.
Pacaud warned that illicit funds from Nigeria and other African countries are sometimes used to finance terrorism and corruption, stressing the need to close loopholes that facilitate the movement of such funds.
Representing NFIU Director Hafsat Abubakar Bakari, Chinedum Odenyi highlighted the growing importance of CSOs in advocacy, research, public awareness, policy engagement and community mobilisation.
He noted that their role would become increasingly critical as Nigeria prepares for its 2027 evaluation of its anti-money laundering, counter-terrorism financing and counter-proliferation financing framework.
Samuel Agada is a writer and media contributor from Olamaboro Local Government Area of Kogi State, Nigeria. He is a graduate of Biochemistry from the University of Jos and a former banker with GTBank and FCMB. A prolific writer, songwriter, educator, and Gospel preacher, he is passionate about informing, inspiring, and impacting society through his work.