ICPC: Illicit Financial Flows Draining Nigeria’s Resources, Undermining Development

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The Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Dr. Musa Adamu Aliyu, SAN, has warned that illicit financial flows are depriving Nigeria of vital resources needed for development, weakening governance and worsening the economic hardship faced by citizens.

Aliyu spoke on Tuesday at the Anti-Corruption Academy of Nigeria in Keffi, Nasarawa State, while flagging off a three-day combined training workshop on Illicit Financial Flows and Money Laundering, alongside the Anti-Corruption Leadership Series.

The programme is designed to strengthen the capacity of public officers, civil servants and stakeholders across Ministries, Departments and Agencies to detect, deter and report suspicious financial activities.

The ICPC Chairman said the benefits of illicit financial flows accrued largely to a privileged few, while the country bore the cost through lost revenue and reduced public services.

He stressed that the fight against corruption must go beyond enforcement to include sustained training and capacity building for public servants and other stakeholders.

“Enforcement is only one leg of the fight against corruption,” Aliyu said, stressing that sustainable anti-corruption efforts required prevention through knowledge, integrity and leadership.

He urged participants to apply the knowledge acquired from the workshop in their respective organisations and become ambassadors of transparency, accountability and integrity.

Aliyu also announced the Commission’s commitment to repositioning the Anti-Corruption Academy of Nigeria as a world-class centre for anti-corruption training, research and development.

He said the Academy would be transformed into a centre of excellence capable of producing professionals equipped with the skills to confront emerging corruption challenges in Nigeria and beyond.

The ICPC Chairman subsequently inspected the Academy’s facilities to identify areas requiring urgent upgrading and improvement.

He assured that the Commission would provide the necessary support, infrastructure and partnerships to enable the Academy meet international standards in anti-corruption training and education.

The three-day programme brings together public officers and other stakeholders as part of efforts to strengthen Nigeria’s capacity to tackle corruption, money laundering and illicit financial flows.

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