It’s a known fact that African economies have in the last two decades, lost between trillions of dollars to illicit financial flows that’s nearly equal to the
He was said to have also called for the establishment of a globally inclusive intergovernmental tax body to strengthen global efforts against IFFs.
The head of secretariat of the African Union High Level Panel on IFFs and the Working Group on Common Africa Position on Asset Recovery , Mrs. Souad Aden-Osman, emphasised the need for African Voices on IFFs and asset recovery to be heard at the global level. “Stopping the IFFs and the recovery of African assets in foreign jurisdictions will help the development of African countries Our focus is to improve and develop the capacity of African Union Member-States and find ways of increasing domestic resource mobilization,” said Aden-Osman, who is the Executive Director of Coalition of Dialogue on Africa .
“The AU HLP on IFF and Coalition for Dialogue on Africa will continue to advocate for more inclusive and transparent international financial and trade governance systems that are fairer for African countries, established the necessary platforms for presenting a unified African voice in this regard, and strengthen partnerships with continental and regional organizations, think tanks and research...
In his submission at the IFFs and Asset Recovery Conference, a member of the African union high level Panel on IFFs and the Working Group on Common Africa Position on Asset Recovery , Barrister Akere Muna, called on the African governments to flush corruption and IFFs out of the continent. He queried, “How is it possible that a private jet is loaded with cash and flown to some countries in Africa just to pay bribes?”
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