‘How Nigeria fuels illicit financial flows through waivers, concessions to multinationals’
- Lagos Nigeria Guardian News
- 5p
The article talks of IFFs in Nigeria, the major actors that are fuelling IFFs.Nigeria being responsible for over 30 per cent of illicit financial flows (IFFs) in Africa, the government of Nigeria may continue to fuel outflows if arbitrary concessions, pioneer status and waivers granted to investors and multinational corporations (MNCs). Similarly, Nigeria is found culpable in encouraging the routing of illicit funds internally through investments in the real estate sector, which has seen many investing in many highbrow properties with no one occupying them in a country with a deficit of over 17 million housing units. IFFs are often executed through a system that lacks poor governance, weak regulatory structures, tax incentives, double taxation agreements, and financial transactions opacity.
ASSET STRIPPING CAPITAL FLIGHT CORRUPTION GOOD GOVERNANCE MONEY LAUNDERING NATURAL RESOURCES
