Nigerian Foreign Affairs Minister Yusuf Tuggar has called for international cooperation to combat illicit financial flows and ensure the return of stolen crude oil from London.
Addressing the 6th Annual General Assembly of the Network of Anti-corruption Institutions in West Africa, Tuggar emphasized the need for global action to tackle corruption and illicit financial flows, which he said were closely tied.
“African countries lose an estimated $8.6 billion yearly to illicit financial flows, equivalent to around three per cent of the continent’s Gross Domestic Products,” Tuggar said. “These funds, often hidden in tax havens and opaque financial systems, represent stolen resources that could have been used to build schools, hospitals, roads, and other critical infrastructure.”
