A.M. ATL: Georgia spellers stung at national bee ajc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ajc.com Daily Mail and Mail on Sunday newspapers.
…Over $700m Stolen Funds Returned To Nigeria In Four Years
The Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, has said that developing countries in Africa lose over $148 billion to corruption annually partly due to Illicit Financial Flows (IFFs).
Malami, who spoke at the International Conference on IFFs and Asset Recovery organised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), also disclosed that over $700 million stolen funds from Nigeria has been returned to the country in the last four years.
He said, “Nigeria, through proactive and collaborative efforts with other countries has recovered and ensured the return of over $700 million from the United States, the United Kingdom, Bailiwick of Jersey, Switzerland, and Ireland in the past four years. We are still working with our international partners and other countries to ensure that all Nigeria’s assets that are identified are recovered.”
Illicit Financial Flows: Africa loses $148bn to Corruption Yearly, Says Malami channelstv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelstv.com Daily Mail and Mail on Sunday newspapers.
ICPC investigators urged to track real estate and education-linked Illicit financial flows
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has dragged about 2,000 corporate entities into the country’s tax net, the Chairman of the Commission, Prof. Bolaji Owasanoye, SAN, has revealed.
He made this known on Tuesday in Abuja while responding to questions from journalists at the end of a capacity building for ICPC investigators on investigating Illicit Financial Flows (IFFs) held at the corporate headquarters of the commission.
Prof. Owasanoye disclosed that the 2,000 corporate entities were uncovered by investigations undertaken by the commission and their names have been forwarded to the Federal Inland Revenue Service (FIRS) for profiling.
Nigerian politicians own 800 properties worth $400m in London, Dubai – Chatham House Expert
Matthew Page, an associate fellow of Chatham House, London, U.K., says education and real estate sectors provide opportunities for Politically Exposed Persons (PEPs) in Nigeria to launder money. 3 min read
Matthew Page, an associate fellow of London-based Chatham House, an international affairs think tank, has advised investigators to focus on real estate and education sectors, when tracking illicit financial flows and money laundering.
He gave the advice in a paper he presented entitled, ‘IFFs through the real estate and education sectors: Implications for Investigators’ at a virtual capacity building forum for investigators on investigating Illicit Financial Flows (IFFs), on Tuesday.