Connect with us

General News

Nigeria’s development bleeds as illicit financial flows thrive- ANEEJ

Published

on

Our Reporter 

Nigeria’s development continues to suffer massive setbacks as illicit financial flows, corruption, tax evasion, procurement fraud and other forms of financial crimes divert resources meant for infrastructure, education, healthcare, job creation and improved living standards, the Africa Network for Environment and Economic Justice (ANEEJ) has warned.

The Executive Director of ANEEJ, Rev. David Ugolor, raised the alarm in Uyo, Akwa Ibom State, at a two-day training workshop for journalists and civil society organisations (CSOs) on combating illicit financial flows (IFFs).

The workshop, organised by a coalition of non-governmental organisations led by ANEEJ, with support from the European Union (EU) and SeCFin Africa, a France-based organisation, is themed “Strengthening CSOs and Media Capacity to Contribute to the Fight Against Illicit Financial Flows (IFFs).”

Ugolor said IFFs remained one of the most persistent obstacles to Nigeria’s economic development, noting that billions of naira that should be deployed to improve public services and lift communities out of poverty were continually lost through illegal and fraudulent financial practices.

He identified corruption, money laundering, tax evasion, trade misinvoicing, procurement fraud, profit shifting and other illicit practices as major channels through which resources were diverted from productive use.

“The scale of these losses on a yearly basis should trouble everyone of us, because the burden falls hardest on the ordinary citizens,” he said.

According to him, resources that should have expanded public services and lifted communities out of poverty were instead diverted from national and state development priorities.

He said the consequences were evident in weaker public institutions, declining trust in government, widening inequality and worsening insecurity.

Ugolor cited the troubled Benin-Sapele-Warri road project as an example of the consequences of alleged financial mismanagement and weak accountability in public infrastructure projects.

He alleged that the contractor handling the project had abandoned the road after reportedly receiving N140 billion, lamenting that the development had subjected Nigerians to untold hardship.

“The Benin-Sapele-Warri failed road project has caused untold hardship to Nigerians. This is a clear case of illicit financial flows as the people continue to suffer,” he said.

The ANEEJ chief noted that Nigeria had established several legal, policy and institutional mechanisms to tackle financial crimes, including the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), Nigeria Financial Intelligence Unit (NFIU), Code of Conduct Bureau and Bureau of Public Procurement.

He, however, regretted that illicit financial practices continued despite the existence of these institutions and legal frameworks.

According to him, the persistence of IFFs demonstrates that laws and government agencies alone cannot effectively tackle the problem without active citizen engagement, civil society vigilance and informed public scrutiny.

Ugolor consequently charged journalists to strengthen their capacity to investigate financial crimes and expose illicit financial networks, stressing that the media had a critical role to play in holding powerful individuals and institutions accountable.

He said the nature of illicit financial flows was becoming increasingly sophisticated, requiring journalists to understand beneficial ownership, money-laundering typologies, digital and cross-border transactions, international financial networks and data-driven investigative techniques.

“Your responsibility goes beyond reporting events as they happen. It includes helping ordinary citizens make sense of issues that shape their lives, digging beneath the surface to uncover further details and illicit transactions, and amplifying voices that would otherwise go unheard,” he said.

He urged participants to use the knowledge acquired at the workshop to produce evidence-based and credible investigations capable of driving transparency, accountability and policy reforms.

Also speaking, Operations Coordinator of the SeCFin Africa Project, Philippe Pacaud, warned that illicit financial flows posed not only an economic threat but also a security risk.

Pacaud said some illicit funds from Nigeria and other African countries were being used to finance terrorism and other criminal activities.

“It is known to us that illicit funds flows are used to sponsor terrorism and we must tackle it immediately,” he said.

Representing the EFCC, the Head of its Corporate Affairs Department, Theresa Nwosu, stressed the need for stronger synergy and coordination among anti-corruption agencies, CSOs and the media.

Nwosu said greater collaboration was necessary to effectively identify, investigate and disrupt illicit financial activities.

In a presentation titled “Understanding Illicit Financial Flows and Financial Crimes in Nigeria,” the SecFin Africa Programme Representative, Prof. Abdullahi Shehu, defined IFFs as cross-border movements of funds that are illegally earned, transferred, owned or utilised.

He said such financial outflows were often facilitated by weaknesses in law enforcement, institutional coordination and accountability systems, resulting in the loss of public resources and erosion of state capacity.

Shehu identified three major characteristics of IFFs as the illegality of the source or origin of funds, illegality of their movement or transfer, and illegality of their ownership or use.

He also distinguished IFFs from money laundering, explaining that while money laundering involves proceeds that are illegal, IFFs can also involve funds that were legally earned but subsequently moved or used illegally.

Shehu said combating IFFs was a collective responsibility necessary for strengthening democracy, good governance and sustainable development.

He called for stronger anti-money laundering and counter-financing of terrorism frameworks, improved compliance, effective customer due diligence and Know Your Customer procedures, expanded monitoring of suspicious transactions and tougher penalties for financial crimes.

He also urged government to improve transparency in public finance by publishing budgets, procurement contracts and expenditure records.

Other measures recommended included transparent electronic procurement systems, regular audits of government agencies and stronger oversight by legislative and anti-corruption institutions.

On taxation, Shehu advocated the digitisation of tax collection systems, stronger transfer-pricing regulations for multinational corporations and improved information sharing between tax authorities and financial institutions.

He stressed that the objective should not simply be to increase taxes but to reduce tax-related illicit financial flows and opportunities for evasion.

The professor further urged government agencies to deploy artificial intelligence and data analytics to identify unusual transactions, integrate databases across institutions and monitor cross-border financial movements in real time.

He also advocated expansion of digital payment systems capable of leaving auditable records.

Shehu said tackling illicit financial flows required a coordinated response involving government institutions, the media, CSOs, citizens and international partners.

He warned that without sustained and holistic action, Nigeria and other African countries would continue to lose valuable resources to illicit financial practices while grappling with poverty, insecurity, weak infrastructure and underdevelopment.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General News

NNPC announces nationwide N66 fuel discount for fuel bought through app

Published

on

By Our Reporter

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has commenced a nationwide promotional campaign offering customers a ₦66 discount on fuel purchases made through its NNPC Fuel App.

The promotion, which began on October 1, will run until October 7 at NNPC filling stations across the country.

NNPC announced the initiative in a post on its X handle on Friday, saying customers had already started taking advantage of the offer at various stations.

“The ₦66 Discount Promo is ongoing & the excitement is already happening across our stations nationwide!

“All over Nigeria, our customers are getting in on the action & there’s still time for you to benefit!

The promo runs from 1–7 October on the NNPC Fuel App,” the post read.

The company said activities had commenced at several of its stations nationwide, with highlights from the first day of the promotion shared with the public.

NNPC urged motorists and other customers to continue using the Fuel App for their transactions throughout the seven-day campaign in order to benefit from the discount.

“Keep fueling, keep transacting and keep your eyes on our pages,” the post read.

The national oil company also said it would continue to release pictures and updates from participating stations as the promotion progresses.

Customers have been advised to take advantage of the offer before the promotional period ends on October 7.

The ₦66 discount applies to eligible transactions made through the NNPC Fuel App during the promotion.

Continue Reading

General News

Hardship: Public servants begin three-day warning strike

Published

on

By Our Reporter

Public servants across Nigeria have commenced a three-day warning strike following a directive by the Joint National Public Service Negotiating Council over what the workers described as worsening economic and mental hardship.

The industrial action, which began at midnight on Friday, October 2, 2026, is expected to run through Sunday, October 4.

The council directed its national and state leadership to mobilise workers for the action, with the directive contained in a circular dated October 1 and signed by the National Secretary of the JNPSNC, Olowoyo Gbenga.

The circular urged the council’s leadership to ensure that the strike notice reached workers across the country.

The decision, according to the council, followed the Federal Government’s alleged failure to respond to demands earlier presented to President Bola Tinubu in a letter dated September 21, 2026.

READ ALSO:Unions reject TUC suspension of strike, demand reversal of King’s College concession

Explaining the commencement of the industrial action, the council stated, “Consequent upon the above, the strike shall start with effect from midnight on Friday, 2nd October, 2026 to Sunday October 4th, 2026.”

The council called on public servants at the federal, state and local government levels to participate in the warning strike, saying the action was aimed at drawing attention to the economic difficulties confronting workers and their dependants.

It stated, “In the same vein, all public servants in the services of federal, state and local governments are to join the warning strike because an injury to one is an injury to all, most especially, all workers, their dependants, vulnerable and hapless Nigerians are groaning terribly under the present economic hardship.”

The JNPSNC further expressed concern over the impact of the economic situation on workers, saying, “The economic and mental hardships are becoming unbearable and frustrating.”

It also directed its leaders to commence immediate mobilisation for the industrial action, declaring, “The time to act and mobilise workers for the three-day warning strike is now!!!”

The warning strike comes against the backdrop of demands earlier submitted by the council to the Federal Government for measures to ease the pressure of rising living costs on workers.

Among the demands were a reduction in the price of petrol, an immediate wage award for workers and the commencement of negotiations for a new national minimum wage ahead of 2027.

The council had reportedly asked the Federal Government to bring down the pump price of petrol to N500 per litre, approve an immediate wage award and constitute a tripartite committee to negotiate a new national minimum wage.

The demands followed continued concerns over the declining purchasing power of workers amid increases in the prices of essential commodities, transportation and other household needs.

In its latest circular, the council urged its members to circulate the strike notice and expressed optimism about the outcome of the industrial action.

“Please, disseminate the information!!! Surely, there is victory for us!!!” the circular added.

The council maintained that the warning strike would proceed as scheduled, with public servants across the federal, state and local government services expected to take part.

Efforts to obtain a response from the Ministry of Labour were unsuccessful as of the time of filing this report.

Continue Reading

General News

Olokoro Community Eulogises NDPHC MD/CEO Adighije for School Renovation, Development Projects

Published

on

Johnchuks Onuanyim, Abuja

The people of Olokoro Clan in Umuahia South Local Government Area of Abia State have showered encomiums on the Managing Director and Chief Executive Officer of the Niger Delta Power Holding Company (NDPHC), Engr. Jennifer Adighije, for executing key development projects in the community, including the comprehensive renovation of a block of classrooms at Boys Secondary School, Umuoparazara.

The community described the projects as landmark interventions that have not only improved learning conditions for students but also reinforced Adighije’s commitment to grassroots development and community service.

Speaking during the commissioning of the projects on Nigeria’s Independence Day celebration, community leaders, traditional rulers, women groups and youth organisations hailed Adighije as a worthy ambassador of Olokoro whose contributions have brought honour and development to the clan.

The projects commissioned include the renovation of a classroom block at Boys Secondary School, Umuoparazara Olokoro, and the landscaping and installation of modern 3D flooring at the Olokoro Clan Headquarters Complex in Ahiaukwu.

The event attracted a large gathering of traditional rulers, government representatives, community stakeholders and indigenes who turned out to celebrate what many described as a historic day for the clan.

In his remarks, the Federated President-General of the Olokoro Clan Development Union (OCDU), Dr. Odinakachi Umekwe, commended Adighije for her dedication to the welfare of her people and for consistently identifying with the aspirations of the community.

He noted that the renovation of the school facility would significantly improve the learning environment for students and contribute to educational development in the area.

Umekwe urged community members to safeguard and maintain the facilities, while offering prayers for greater accomplishments in Adighije’s public service career.

Speaking shortly before commissioning the renovated classroom block, Adighije attributed the successful execution of the projects to God’s grace and the productive partnership between the community and government institutions.

She assured the people that her intervention in the school would not end with the renovation, announcing plans to undertake solar electrification of the classroom block as the next phase of support.

According to her, quality education remains critical to community development and nation-building, stressing that investments in educational infrastructure are investments in the future of young people.

She also pledged to continue collaborating with the leadership of the OCDU to identify and execute additional projects that would improve the living conditions of residents.

The community further applauded the NDPHC boss for her contributions to youth empowerment, employment opportunities and other initiatives aimed at improving the socio-economic wellbeing of Olokoro people.

Traditional rulers, women leaders, youth representatives and elders who spoke at the event described Adighije as a role model and a source of inspiration to younger generations, noting that her achievements in engineering, public service and community development have made the clan proud.

In an emotional response during a grand reception held in her honour at the Olokoro Clan Headquarters, Adighije thanked the people for their overwhelming support and goodwill.

She reaffirmed her commitment to serving humanity and promoting the development of Olokoro, assuring residents that she would continue to contribute her quota to the progress of the community whenever the opportunity arises.

Her father, Senator Chris Adighije, also expressed gratitude to the people of Olokoro for the honour accorded his family and pledged continued support for initiatives that would advance the development of the clan.

The event featured cultural performances by students of Boys Secondary School, Umuoparazara, and was attended by prominent traditional rulers, community leaders, women groups, youth organisations and other stakeholders from across Olokoro Clan.

Continue Reading

Trending