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ICPC Boss Rallies Global Action Against Illicit Financial Flows

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The Chairman, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, has rallied a global action against Illicit Financial Flows (IFFs), including a call for global framework on IFFs similar to corruption.
Owasanoye made this call at a side event of the ongoing hybrid 54th Conference of the United Nations Economic Commission for Africa (UNECA) taking place in Dakar, Senegal.
Mrs Azuka Ogugua, ICPC’s Spokesperson, in a statement in Abuja said that the conference would focus on regional efforts to track, recover and return stolen assets from Africa through the IFFs.
She said that the meeting was attended by representatives of member-countries of the Economic Community for Africa, heads of anti-corruption agencies and international bodies.
Addressing the meeting virtually, the ICPC boss emphasised the need for a global framework on IFFs as part of a determined commitment to tackle the menace.
“The challenge we found ourselves today is that the rules have always been skewed in favour of those who export capital and against those who import capital. Corruption is a global issue and we have a global framework on corruption.
“The IFFs is also a global issue but does not have a global framework.
“A way out of the problem is to institute a global framework on IFFs which, among others, will address the huge financial losses suffered by African countries,” the ICPC chairman stated.
He noted that the COVID-19 pandemic and the Russia-Ukraine war had complicated the financial resources of African countries, hence the need to tackle the IFFs and stop further hemorrhage of the financial resources on the continent.
Further to the global framework on IFFs, Owasanoye also proffered legal and policy measures that should be implemented by African countries to address the IFFs risk.
These legal and policy measures, according to the ICPC boss include, review of agreements entered into with Multinational Corporations (MNCs), review of inimical double taxation agreements.
Others are: enactment of laws, rules or regulations on unexplained wealth order or lifestyle audit,  introduction of civil forfeiture of assets and beneficial ownership standards; and design of a framework for trans-digital transactions.
The ICPC chairman also advocated tougher measures against corrupt state officials who collude with the MNCs against their countries.
“African countries must understand that the MNCs split contracts.
“The juicy parts of the contracts with MNCs are domiciled in their home countries while the non-juicy parts of the contracts are domiciled in Africa.
“We need to deal with the MNCs’ collaboration by government officials who look the other way in international agreements,” he said.
Earlier in her remarks, the Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), Rebecca Grynspan, said the global economy was under enormous stress due to COVID-19 pandemic, Russia–Ukraine war and climate change.
Grynspan noted that IFFs posed a huge challenge to African countries in realising the Sustainable Development Goals (SDGs).
“We are aware of the increasing rates which make it more difficult and harder for African countries to access finance.
“The African economies are also feeling the impact of the Russia – Ukraine war and thereby widening the financing gap.
“Africa requires US$2.45 trillion to meet its SDG financing gap. We can close half of the SDG financing gap for Africa if we are able to curb IFFs.
“We therefore cannot continue to allow the billions of dollars of IFFs slipping out of Africa every year,” she said.
She added that, “The IFFs and Asset Recovery are more critical to Africa today. Both are required by African Countries to achieve the SDGs.”
She emphasised on the need for data and collaboration among African institutions like Customs and Central Banks as a necessary condition for tracking the IFFs.
The United Nations Convention against Corruption (UNCAC) is the only legally binding universal anti-corruption instrument.
The convention’s far-reaching approach and mandatory character of many of its provisions make it a unique tool for developing a comprehensive response to a global problem.
The vast majority of United Nations Member States are parties to the convention.

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VCDF in Partnership with LAWMA & Iru LCDA Conducts ‘Street Hygiene & Cleanliness’ Campaign in Lagos

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Living healthy lives can be enabled by embracing and maintaining cleanliness in our urban surroundings, we not only enhance the hygiene of our streets and drains but also contribute to mitigating the adverse effects of pollution and promoting a sustainable future for generations to come.

On April 6th, 2024, a community-driven initiative took to the streets of Victoria Island, Lagos, in a concerted effort to combat littering, blocked drains, thereby reducing flooding and the deteriorating cleanliness of the neighborhood. The Street Hygiene and Cleanliness Campaign, organized by the Vcare for Development Foundation (VCDF), in collaboration with Sterling Oil Exploration & Energy Production Co. Ltd. (SEEPCO), Iru-Victoria Island LCDA and Lagos State Waste Management Authority (LAWMA) saw an impressive turnout of volunteers and stakeholders determined to make a tangible difference in their environment.

The campaign aimed to promote cleanliness and environmental sustainability in Victoria Island, addressing issues like littering, improper waste disposal and consequent flooding. By providing donations of sanitation tools like rakes, pickers, brooms, and bin bags as well as personal protective equipment like coveralls and gloves, VCDF inspired volunteers and stakeholders to take proactive steps to stop the spread of disease, build community pride, and maintain a clean environment.

The dignitaries present at the event were Princess (Hon.) Rasheedat Abiodun Adu, Executive Chairperson, Iru-Victoria Island LCDA; Mrs. Ogabi Adetokunbo, Council Manager; Mr. S.O. Omoteji, Head of Human Resources, Mr. Odu Olufemi, Head of the Environment, all from Iru Victoria Island LCDA; Mrs. Aramide Olaniyan, Head of Corporate Engagement, Mr. Ebenezer Otubu, Deputy Head, Street Sanitation Services and Mr. Gbenga Adebayo Fagbola, Regional Manager, Lagos East 1, Lagos Waste Management Authority (LAWMA).

Beyond the immediate benefits of an immaculate surrounding, it has encouraged a culture of social responsibility among the workforce and promoted community unity.

Speaking at the event, Mr. Odu Olufemi said, ‘the VCDF initiative is praiseworthy, and maintaining effective sanitation practices is essential for ensuring a healthier Lagos State through recycling materials, segregating waste, desilting drainage systems, and clearing sidewalks for safety and easy access.’

Mrs. Aramide Olaniyan expressed, ‘together, we are not only cleaning streets but also spreading awareness about the value of environmental stewardship for a better tomorrow.’

VCDF is dedicated to embracing sustainability to protect healthy habitats and foster a culture of social responsibility, ensuring the welfare of current and future generations.

By coming together to tackle environmental challenges, residents and stakeholders demonstrated their commitment to creating a cleaner, safer, and more vibrant neighborhood for all.

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VCDF in Partnership with LDSVA Sensitise Women on Gender Equality, Financial Literacy & Entrepreneurship

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Women, the pillars of our society, are resilient and determined as they play essential roles in nurturing families and leading businesses. Despite facing challenges like limited financial resources and unequal opportunities, they persist, inspiring generations and driving positive change.

In honour of Women’s History Month, Vcare for Development Foundation (VCDF), in collaboration with Sterling Oil Exploration & Energy Production Co. Ltd. (SEEPCO) and the Lagos State Domestic and Sexual Violence Agency (LDSVA), embarked on a transformative journey to empower 100 community women, focusing on sexual and domestic violence prevention, financial literacy, and entrepreneurship, on March 27, 2024, in Eti-Osa LGA, Lagos State.

When women are empowered, they become catalysts for progress, influencing not only their own lives but also the lives of their families and those around them. The programme gave the women the opportunity to acquire knowledge on tools that can help their businesses grow, also providing a safe space for women to learn and connect with others, making them feel more confident and capable in making decisions for their businesses.

Distinguished guests present at the event were Mrs. Bello Oluwakemi, Head of the Field Operations Department, Lagos State Domestic and Sexual Violence Agency (LDSVA), Chief Mrs. Eletu-Odibo Wasilat, Community Development Committee Chairman of Eti-Osa LGA, Lagos State, and Mrs. Adenike Akintoye, Head of Women Affairs and Poverty Alleviation Unit, Eti Osa LGA.

While giving her feedback, Chief Mrs. Eletu-Odibo Wasilat said, “community-driven efforts like this initiative are instrumental in driving sustainable change and enabling women to realise their full potential.”

Mrs. Bello Oluwakemi noted during her closing remark, “training women in our communities will improve their livelihoods and contribute to household income, thereby leading to better standards of living.”

This collaborative initiative aligns with the Sustainable Development Goals (SDGs) – Gender Equality (SDG 5) and Reduced Inequalities (SDG 10), which aim to ensure everyone is treated equally and reduce differences between people.

VCDF will continue to educate and empower women for a greater inclusion in society, supporting their advancement and ensuring their meaningful participation in all spheres of life. Together, let us continue to champion the cause of women, celebrate their achievements, and pave the way for a brighter and more equitable future for all.

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Ibom Developers Supports 160 Women with Skill Acquisition Training in Akwa Ibom

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Empowering women with vocational skills is a vital step towards fostering gender equality and inclusive growth in society. This effort involves equipping women with practical expertise that can be applied across various aspects of life, including professional, personal, and entrepreneurial settings. Ibom Developers’ recent initiatives to provide skill acquisition training to women in its host communities aim to help them thrive in society.

On April 8, 2024, Ibom Developers commenced its ongoing skill acquisition training programme, themed ‘Virtuous Women’ in Egwenwe and Okoroinyong communities.
Dignitaries, including His Royal Highness Chief Johnson J. Osiba (Ijongo IV), the Okaama of Egwenwe Community; Mr. Warribo Isaiah, Community Development Chairman, Egwenwe Community; Pastor Johnson Christian Ubulom, Youth President, Egwenwe Community; Mrs. Catherine Monday Ogbofork, Women Leader of Egwenwe Community; Mrs. Sarah Evans Nfeija, Health Officer, Egwenwe Community; and representatives from Okoroinyong community, were present at the inaugural event.

This skill acquisition programme aims to empower 160 women in these communities with expertise in catering, packaging, hairdressing, wigging, ventilation, and styling. The program took place from April 8 to April 20, 2024, at Egwenwe Town Hall and Okoroinyong Town Hall in Eastern Obolo LGA, Akwa Ibom State, imparting essential entrepreneurial skills to the women in the communities.

During the inaugural event, Chief Johnson J. Osiba (Ijongo IV), the Okaama of Egwenwe Community, expressed, ‘‘This empowerment initiative will provide our women with the autonomy and decision-making power they need to become self-sufficient contributors to the growth and development of our community.’’

The participation of women in several economic activities makes their upliftment a potent strategy for economic growth. Their involvement expands the workforce, cultivating heightened innovation and efficiency within the community.

Mrs. Catherine Monday Ogbofork, Women Leader of Egwenwe Community, emphasised, “Access to training tailored to the needs of women allow them to develop specialised skills. I am glad that this programme has offered options that suit our women’s preferences and goals.’’

Acquiring skills for livelihood elevates family status and unlocks entrepreneurial avenues. Ibom Developers is dedicated to promoting entrepreneurship among women and supporting socio-economic empowerment in local communities.

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