Private Sector Aids 60% Illicit Financial Flows from Africa
Jul 28, 2021 ·
1m 8s
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Prof. Bolaji Owasanoye, says the private sector was responsible for over 60 per cent illegal movement of funds...
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The Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Prof. Bolaji Owasanoye, says the private sector was responsible for over 60 per cent illegal movement of funds from Africa to foreign countries.
The ICPC boss says perpetrators of illicit financial flows channel such funds through commercial activities enabled by the private sector.
He says about 60 per cent of funds taken or stolen away from Africa through illicit financial flows are being done by the private sector, basically, through commercial transactions, seemingly harmless transactions that are put together by accountants, auditors and bankers.
The ICPC chairman also commented on attacks on staff of the commission and other anti-corruption agencies by suspects under investigation.
show less
The ICPC boss says perpetrators of illicit financial flows channel such funds through commercial activities enabled by the private sector.
He says about 60 per cent of funds taken or stolen away from Africa through illicit financial flows are being done by the private sector, basically, through commercial transactions, seemingly harmless transactions that are put together by accountants, auditors and bankers.
The ICPC chairman also commented on attacks on staff of the commission and other anti-corruption agencies by suspects under investigation.
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