Chairman of the Economic and Financial Crimes Commission (EFCC) Mr. Olanipekun Olukoyede, has disclosed that a whopping $88.6 billion is lost to illicit financial flows in Africa annually.
He stated this in Tunis, Tunisia on Thursday, June 27, 2024 while delivering a keynote address at the Pan-African Conference on Illicit Financial Flows (IFFs) and Taxation.
Speaking on the theme “Africa’s Tax Agenda in Combatting Illicit Financial Flows: From Words to Action,”, the EFCC’s boss emphasized the grave challenge posed by Illicit Financial Flows to Africa’s economic stability and development.
