Foreign Exchange Affected By Illicit Financial Inflows – IoDCCG Chairman

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Naijanews May 3, 2022 3:21 p.m.

Foreign Exchange Affected By Illicit Financial Inflows – IoDCCG Chairman

Africa not only loses about five per cent of continental Gross Domestic Product annually to illicit capital flights but the proliferation of illicit financial flows enables terrorist activity and insecurity from the Lake Chad region, which includes Nigeria spanning the Sahel region.” “The losses to economic growth, trade opportunities, and social development are therefore unquantifiable.

While reiterating the need for all stakeholders to play positive roles in strengthening the continent’s financial growth, Idris observed that illicit financial flows contribute toterrorist activitiesand insecurity from the Lake Chad region, spanning through Nigeria..

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