• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, July 16, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

AfDB inaugurates $5.9m project to stem illicit financial flows

AfDB

The Matters Press by The Matters Press
March 11, 2023
Reading Time: 2 mins read
0
Nigeria gets AfDB’s $14m as member of ATI

AfDB

The African Development Bank (AfDB) has inaugurated the African Financial Integrity and Accountability Support Project (AFIAP) to improve coordinated responses to illicit financial flows in African countries.

RELATED POSTS

17-member committee for burial of Buhari

Lagos falls flat to APC

Nigeria celebrates Soyinka at 91

A statement issued by the Bank on Friday in Abuja, said that the three-year support project would help stakeholders engage actively in stemming illicit financial flows and improve domestic revenue mobilisation in Africa.

According to the statement, AfDB is handling the 5.9 million dollars project in partnership with the Coalition for Dialogue on Africa (CoDA).

The statement said the project which took place at the African Union (AU) headquarters, aims to improve regional coordination on accountability of public finances for optimal revenue mobilisation and management in African countries.

“It will support the coordinated implementation of recommendations of the high-level panel on illicit financial flows and the implementation of joint strategies and initiatives related to international taxation,’’ it said.

It said the grant would support CoDA’s role as the secretariat of AU High-Level Panel (HLP) on Illicit Financial Flows (IFFs) and Joint Secretariat of the Consortium to stem IFFs from Africa.

“The support will foster a coherent African response to illicit flows, in line with the AU Assembly Special Declaration on IFFs passed in January, 2015.

“It will also advance Africa’s continent-wide asset recovery agenda encapsulated in the Common African Position on Asset Recovery (CAPAR) adopted in February 2020.

“This will be carried out by CoDA, the AU Commission Departments of Economic Development, Trade, Tourism, Industry and Minerals and Political Affairs.

“It will also be carried out by the Peace and Security Department, in collaboration with other national, regional and global actors,’’ it said.

The statement said that the project targeted selected AfDB member countries, with emphasis on public sector capacities in low-income countries to reinforce resilience via training, policy research and advocacy activities.

The Bank’s Deputy Director-General for Eastern Africa Regional and Business Delivery Office, Abdul Kamara expressed satisfaction with the project.

Kamara said that the project was in line with the mandate to ensure that policies and practices were mobilised in addressing financial crime, tax avoidance and money laundering.

“In addition to combating illicit financial flows, this project will contribute to promoting greater efficiency in public financial management in order to boost revenue mobilisation and management,” Kamara said.

On his part, the Executive Director of CoDA/HLP Secretariat, Souad Aden-Osman commended AfDB for the financial support.

According to him, we are eager to work with the bank in ensuring Phase II of the implementation of the Panel’s recommendations is well underway.

“This collaboration with the AfDB is highly useful in this regard.

“On behalf of its Board of Directors and the HLP on IFFs from Africa, CoDA is thankful to the president, management and board of the AfDB for their continued support,’’ Aden-Osman said.

Tags: AfDB
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Buhari attends inauguration of Barrow of Gambia
Entertainment/sports

17-member committee for burial of Buhari

July 14, 2025
Lagos falls flat to APC
Economy/Technology

Lagos falls flat to APC

July 13, 2025
African intellectuals release letter to world, caution continent on selfness
Economy/Technology

Nigeria celebrates Soyinka at 91

July 13, 2025
China introduces new visa
Economy/Technology

Nigeria maintains issuance of 5-year visa to Americans

July 13, 2025
ADC, AN ASSEMBLAGE OF STRANGE BED FELLOWS, TIRED POLITICIANS– GROUP
Energy

ADC, AN ASSEMBLAGE OF STRANGE BED FELLOWS, TIRED POLITICIANS– GROUP

July 10, 2025
Babangida Aliyu’s Exit from ADC, a testament to Coalition’s deceitful recruitment- Group
Economy/Technology

Babangida Aliyu’s Exit from ADC, a testament to Coalition’s deceitful recruitment- Group

July 10, 2025
Next Post
NDIC gives hope to customers of Fortis Bank

NDIC warns banks on increase in fraud

Global trade’ll grow to $30tn by 2030

Nigeria records N11trn total trade for Q4 2022

Recommended Stories

DMO to add N20trn “Ways and Means” loans to public debt stock

October 21, 2022
Trading in Nigerian stock market dips further N83bn

NGX continues downward trends, loses 0.20%

March 23, 2022
FIRS deploys tech platform for tax collection

AMAC Taskforce raids illegal tax collectors den, arrest 10

June 16, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • 17-member committee for burial of Buhari
  • Lagos falls flat to APC
  • Nigeria celebrates Soyinka at 91

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us