Osinbajo opens conference on illicit financial flows, asset recovery today

Osinbajo opens conference on illicit financial flows, asset recovery today

Acting President, Prof. Yemi Osinbajo will today, in Abuja, declare open a three-day conference on “Promoting international cooperation in combating illicit financial flows and enhancing asset recovery to foster sustainable development”.

The conference, according to the organisers, is aimed at closing the knowledge gap on the nature and effect of annual cross border flow of proceeds of criminal activities mostly from developing and transitional economies to developed economies sustained by a global shadow financial system.

A statement by Salihu Isah, the Special Adviser on Media and Publicity to the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), said the conference will take place at the Banquet Hall of the Presidential Villa, Abuja.

According to the statement, the event is being convened under the auspices of the Presidential Advisory Committee Against Corruption (PACAC) in collaboration with the Federal Ministry of Foreign Affairs and the Federal Ministry of Justice.

Isah disclosed that the conference will discuss issues bordering on illegal practices such as direct looting, money laundering, tax evasion, profit shifting by multinational corporations and trade mispricing, among other topics.

“The event will consider how to enhance the asset return process and diminish delays, bottlenecks and apathy that currently characterise the asset return process. Furthermore, the use of returned stolen assets for SDG and human rights will be in focus.”


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