UN Adopts Nigeria’s Strategy to Resolve Illicit Financial Flows

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The UN General Assembly had adopted, by consensus, the Nigeria-sponsored resolution on: “Promotion of international cooperation to combat illicit financial flows in order to foster sustainable development”.

The Federal Government says the United Nation’s adoption of the Nigeria-sponsored resolution on combating illicit financial flows is in tandem with the anti-corruption crusade of President Muhammadu Buhari’s administration.

The Minister of Foreign Affairs, Geoffrey Onyeama, told the UN correspondent of the News Agency of Nigeria (NAN) in New York that the administration’s anti-corruption crusade now has international legal backing.

The resolution reiterated “its deep concern about the impact of illicit financial flows, in particular those caused by tax evasion and corruption, on the economic, social and political stability and development of societies”.

Mr. Onyeama said the adopted resolution would greatly facilitate Nigeria’s efforts to have some of its funds stashed in foreign financial institutions, repatriated back to the country.

“The adoption of the Resolution on Illicit Financial Flows is something that is in sync with the anti-corruption policy of this administration,” he said.

“Also, I think we have to congratulate Mr President because what he has promised to do is to now take this whole issue and get it at the top of the international agenda.

“Getting the anti-corruption crusade at the top of the international agenda is no mean feat.

“So we are really delighted that there is now some international legal backing for this crusade.

“We certainly hope to draw on this resolution to help us in our efforts to have restitution of a lot of Nigerian funds that have been stashed away in foreign countries.”

The Minister also commended the diplomatic skills of the officials at the Permanent Mission of Nigeria for the achievement.

“I think the adoption of this resolution is an excellent achievement. I would like to thank very much the Nigerian compatriots here at the Permanent Mission.

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