ICPC To Equip Nigerian Negotiators With Skills To Tackle Illicit Financial Flows

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has planned a two-day physical and virtual capacity building workshop for Nigerian negotiators, in a bid to tackle cases of illicit financial flows in the country.

The Chairman of the Chommission, Bolaji Owasanoye, in a statement on Sunday noted that the capacity building workshop is aimed at equipping Nigerian negotiators for improved terms of engagement and mitigating IFFs.

The term Illicit Financial Flows refers to financial flows that are illicit either by virtue of their origin (e.g. stemming from organised crime), their utilisation (e.g. to finance terrorism) or the nature of the transfer itself (e.g. money laundering).

Interestingly, the effects of IFFs are particularly devastating for developing countries and increasingly undermine international efforts to promote sustainable development.

Undoubtedly, criminal activities associated with IFFs, such as human trafficking or the illegal trade in drugs, destabilise countries and regions and thus increase the risk of violent conflicts.

The ICPC Boss said, “The idea of the training is to sensitise negotiators on the type of clauses to look out for to protect the laws of the country and prevent Nigeria from losing revenue through Illicit Financial Flows.

“The capacity building will help our negotiators prepare for the risks associated with negotiating trade, investment, tax, natural resource, and environmental agreements for the country.”

The capacity building, being organised by the Commission in conjunction with the Inter-Agency Committee will host Vice President, Yemi Osinbajo, and Melaku Desta, a Professor of International Economic Law from the Leicester De Montfort University in United Kingdom on Monday.

“Vice President Osinbajo will give an opening address at the capacity building for the Nigerian negotiators while Prof. Desta will deliver a paper on “Understanding Trade Agreements,” it stated.

Participants for the capacity building are senior and middle-level negotiators drawn from Ministries, Departments and Agencies (MDAs) of the government, who are involved in negotiating trade agreements with foreign nations and companies for Nigeria.

The ICPC boss also disclosed that the first day of the training of negotiators would be a virtual zoom meeting while five breakout sessions would be held on the second day of the capacity building at the NAF Conference Centre in Abuja.

Among the resource persons expected at the two-day negotiators’ capacity building are the Chairman of the Inter-Agency Committee on Stopping Illicit Financial Flows (IFFs) from Nigeria, Dr. Adeyemi Dipeolu; Executive Secretary of Nigeria Investment Promotion Commission (NIPC), Ms. Yewande Sadiku; and Deputy Chief of Staff to the President (Office of the Vice President), Ade Ipaye.

It would also be attended by a senior lecturer at the Faculty of Law, University of Lagos, Prof. Dayo Ayoade, and acting Director of Department for Climate Change in the Federal Ministry of Environment, Mrs. Halima Bawa-Bwari.