TRUSTAFRICA, Centre for Democracy & Development and Third World Network-Africa have organized consultative roundtable on illicit financial flows, with the theme; “Mending the Leakages: Africa’s Battle against Illicit Financial Flows”. The seminar will among other things discuss causes of illicit capital flows, ways of curbing them and punishment to be meted on perpetrators.
In her welcome address at the occasion, Idayat Hassan, the Director Centre For Democracy & Development, said the roundtable was to discuss issues surrounding illicit capital flows from Africa. She mentioned corruption as major cause of illicit capital flight from the continent. She however said that discussion must include other factors like tax evasion by individuals and multinational organizations.
Dr. Jubril Ibrahim, a Senior Fellow with Centre for Democracy & Development, said that Nigerian government was paying lip service to issues of corruption. He was of the opinion that most African leaders are thieves and he enjoined delegates to roundtable to come up with solid communiqué that can be adopted at international fora.
The second session of the first day was chaired by Kayode Oladele, the Chief of Staff in the office of the Executive Chairman, Economic and Financial Crime Commission (EFCC). He reiterated that his organization in ready to collaborate Nigerians in the fight against corruption and related crimes.
Prof. Bolaji Owasawoye of Human Development Initiative and Stop Impunity Nigeria Campaign told our correspondent that impunity is one of the major causes of corruption in Nigeria. He posited that impunity cuts across class but when it is at the top, it fuels high level corruption. He listed causes of impunity to include; tax evasion, driving against traffic, rigging election etc. He posited that solution to impunity must start from the individual who is also the source it.
The occasion was anchored by Dr. Hassan Abdu. Attendees to the event were from African countries like, South Africa, Ghana, Senegal, Togo etc. The two day event started on 25th March, 2014 and will end on 26th March, 2014, when the communiqué would be issued.