ICPC Chairman Warns Illicit Financial Flows Deprive Nigeria of Development Funds

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Musa Adamu Aliyu, SAN, has warned that illicit financial flows (IFFs) are depriving Nigeria of vital resources needed to drive national development.

Aliyu spoke on Tuesday in Keffi, Nasarawa State, while flagging off a three day combined training workshop on IFFs and money laundering, alongside an Anti-Corruption Leadership Series, at the Anti-Corruption Academy of Nigeria (ACAN).

The workshop, according to the ICPC, is designed to strengthen the capacity of public officers, civil servants and stakeholders across Ministries, Departments and Agencies (MDAs) to detect, prevent and report suspicious financial activities.

The ICPC chairman said illicit financial flows undermine economic growth, weaken governance and worsen the living conditions of ordinary Nigerians, stressing that the gains from such activities benefit only a privileged few while the country bears the consequences through lost revenue and reduced public services.

He said the training would equip participants with the knowledge and skills required to combat illicit financial activities and ensure that Nigeria's resources are retained and deployed for the benefit of its citizens.

Aliyu also reaffirmed the Commission's commitment to transforming ACAN into a world-class centre for anti-corruption training, research and development.

He said the Academy would be repositioned as a centre of excellence capable of producing professionals with the expertise required to tackle emerging corruption-related challenges in Nigeria and beyond.

The ICPC boss stressed that enforcement alone could not win the fight against corruption, noting that prevention through knowledge, integrity and effective leadership remained equally important.

“Enforcement is only one leg of the fight against corruption. Sustainable anti-corruption requires prevention through knowledge, integrity and leadership,” he said.

Aliyu urged participants to apply the knowledge acquired during the workshop in their respective organisations and promote transparency, accountability and integrity in public service.

The chairman also inspected the facilities at ACAN to assess areas requiring urgent rehabilitation and upgrades.

He assured that the Commission would provide the necessary infrastructure, support and partnerships to enable the Academy meet international standards in anti-corruption training and education.