In this session, I emphasised the importance of leveraging technology and data analytics.
We must use artificial intelligence and advanced data systems to identify suspicious transactions.
By integrating databases across government agencies, we can monitor cross-border financial flows in real time.
Expanding digital payment systems that provide auditable records is essential; this is the kind of system we should aim for, and it should be reflected in our reports and recommendations.
Another critical step is increasing international cooperation. Working with other countries helps us identify assets hidden in foreign jurisdictions and negotiate their return.
Over the years, much attention has been given to recovering stolen wealth, and while progress has been made, we must continue to implement global best practices.
The Financial Action Task Force (FATF), the international standard-setting body for anti-money laundering, provides recommendations that every country should adopt.
We must also strengthen asset recovery mechanisms. This means developing the capacity to identify, trace, freeze, and confiscate proceeds of crime.
Negotiating for the return of assets must be based on international standards, and the use of recovered assets must be transparent. Organisations like ANEEJ have been active in monitoring recovered assets, publishing reports, and holding governments accountable.
Equally important is the protection of whistleblowers and investigative journalists. Laws must safeguard those who expose corruption and illicit flows.
Tomorrow, we will discuss the Freedom of Information Act, which is one of the most powerful tools journalists can use to access relevant information.
We must also address governance and corruption risks. This involves enforcing accountability at all levels of government, reducing conflicts of interest, and limiting political interference in law enforcement agencies.
Above all, we must strengthen the judiciary. A strong and independent judiciary is the ultimate guardian of rights and justice.
I want to highlight the role of the SecFin Africa Project, which builds expertise and unites efforts against illicit financial flows.
SecFin Africa Project has supported ANEEJ in organising studies and advocacy initiatives, ensuring that the media plays a central role in raising awareness and driving reform in Nigeria.
During A Training By The Africa Network for Environment and Economic Justice (ANEEJ), In Partnership With The European Union And The Nigerian Financial Intelligence Unit (NFIU).
