The Federal Inland Revenue Service (FIRS) is set to host a two-day national conference on Illicit Financial Flows (IFFs) to safeguard Nigeria’s financial integrity and tackle the menace that adversely impacts revenue collection.
The conference, themed “Combating Illicit Financial Flows: Strengthening Nigeria’s Domestic Resource Mobilisation,” will be held at the Transcorp Hilton Hotel, Abuja, from July 22 to 23.
The conference will bring together experts from various fields, including policymakers, tax administrators, law enforcement agencies, anti-corruption agencies, financial experts, and international stakeholders.
A keynote address will be delivered by Irene Ovonji-Odida, a member of the United Nations High-Level Panel on IFFs, while the Minister of State for Finance, Dr. Doris Uzoka-Anite, will chair the conference.
FIRS Chairman Dr. Zacch Adedeji emphasized the agency’s intensified efforts in tackling IFFs, including strengthening compliance mechanisms, enhancing beneficial ownership transparency, and leveraging technology to detect and deter tax evasion, trade mispricing, and other illicit outflows.
The agency has also established the Proceeds of Crime Management and Illicit Financial Flows Coordinating Directorate (POCM-IFF) to address the menace.
The Federal Government had earlier established an Inter-Agency Committee on Stopping IFFs from Nigeria, comprising FIRS, Nigerian Financial Intelligence Unit, Independent Corrupt Practices and Other Related Offences Commission, Economic and Financial Crimes Commission, Nigeria Customs Service, Central Bank of Nigeria, and Securities and Exchange Commission, among others.
Comment here