ICPC Steps Up Measure To Stem Menace Of Illicit Financial Flows

isaac aregbesola
Aug, Tue, 2023

Defence/Security

ICPC steps up measure to stem menace of illicit financial flows

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By Isaac Aregbesola

The Presidency and Independent Corrupt Practice and Other related Offences Commission (ICPC) have partnered to hold a sensitisation workshop to stem the menace of Illicit Financial Flows (IFFs) in the country.

This is contained in a statement issued in Abuja on Tuesday by the Spokesperson of ICPC, Mrs Azuka Ogugua.

Ogugua said that the Chairman of ICPC, Prof. Bolaji Owasanoye, and the Special Adviser to the President on Revenue, Dr Zacch Adedeji would rally private sector operators and professional bodies against the IFFs.

“The gathering is a one-day hybrid sensitisation workshop on the published “Guidelines for Private Sector Response to IFF Vulnerabilities in Nigeria”, scheduled for Aug. 17 in Abuja.

“Prof. Owasanoye and Dr Adedeji are to provide insights into the guidelines for private sector response to IFF vulnerabilities in the country while a panel of discussants will review the guidelines for private sector response.

Ogugua stated that the sensitisation workshop on the published “Guidelines for Private Sector Response to IFF Vulnerabilities in Nigeria” would enable private sector practitioners to have better understanding on the phenomenon of IFFs.

According to her, it will also provide guidance to them on what to look out for and avoid in the course of their business transactions.

She said that large companies including multinational entities, international banks, large legal and accounting firms have been identified as drivers and enablers of illicit financial flows.

According to her, the sensitisation of the stakeholders is aimed at creating awareness to enable the private sector play a key role in stemming the menace of IFFs from Nigeria

“Members of the panel, which will be moderated by the Chief Executive Officer of Convention on Business Integrity, Mr Soji Apampa, include Chief Compliance Officer and Company Secretary, Oando Plc, Mrs. Ayotola Jagun.

“Also among them is the Programme Director, Africa Centre for International Private Enterprise, Mrs Lola Adekanye,” she said.

According to her, expected at the workshop are private sector stakeholders and professional bodies such as the Manufacturers Association of Nigeria and Association of Professional Bodies of Nigeria.

“Others are Institute of Chartered Accountants of Nigeria Chartered Institute of Taxation of Nigeria, Chartered Institute of Bankers of Nigeria and Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture.

“Also expected are the Abuja Chamber of Commerce and Industry (ACCI), Odu’a Chambers of Commerce, Industry, Mines and Agriculture (ODUA’CCIMA), Real Estate Developers Association of Nigeria (REDAN)

“Infrastructure Concession Regulatory Commission (ICRC), Bureau of Public Enterprises (BPE), and members of the Inter-Agency Committee on Stopping IFFs from Nigeria are also expected,” she said.(NAN)(www.nannews,ng.com)

Edited by Deji Abdulwahab

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