Nigeria, Other African Nations Lose $50bn Yearly to Illegal Financial Outflows, Laments Shippers’ Council Boss
BARR AKUTAH
*Assures of NSC protection for whistleblowers
By Our Reporter
The Executive Secretary, Nigerian Shippers’ Council (NSC), Barr Pius Akutah, has said that Nigeria and other African countries have continued to lose as much as $50 bn annually as a result of illegal financial outflows.
Akutah described this trend as having negative impact on the economies of the continent with consequences on the quality of lives of the people.
Speaking in Lagos recently on the occasion of debate competition organised by members of the National Youth Service Corps in collaboration with the industrial trainees of the council, Akutah regretted that every effort to lift Africans out of poverty situation has been difficult.
The NSC CEO who was represented on the occasion by the Director of Human Resources of the Council, Mrs Ada Okam, such illicit financial outflows have made it difficult for the continent to grow and achieve the African agenda and the Sustainable Development Goals.
“From research, it is noted that Africa loses more than $50bn annually through illicit financial outflow”, he said during the event which had the theme “ “Effective whistleblowers protection mechanism: A critical tool in the fight against corruption’.
He identified corruption as a big phenomenon which has been affecting humanity.
He added, “its effect is negatively permeative and all-encompassing, touching on every facet of human society, as it retards national advancement, stability and prosperity.
“It is on this premise that the African Union has set aside July 11 every year as a day to remind everyone of the menace of corruption. This is according to the United Nations’ campaign to ensure a reduction in corruption and the promotion of transparency.”
The NSC CEO urged the continent to engage young men and women as integral part of the society in discussing national, continental and global issues.
He noted that the theme of the competition reflects greatly on the relevance of whistleblower and the importance of protection.
He described it as an advocacy for “effective coordination between investigative, prosecution and judicial systems” which will help in protecting the whistleblower.
He said that it is the policy of the NSC as contained in its Code of Conduct to protect the whistleblower.
According to him, “Recognising whistleblowing as a critical element for combatting corruption, there are institutions, laws and policies put in place at the national, regional and global levels to protect the whistleblower.
“The NSC Anti-Corruption and Transparency Unit is also responsible for the protection of whistleblowers in the council.”
By Our Reporter
The Executive Secretary, Nigerian Shippers’ Council (NSC), Barr Pius Akutah, has said that Nigeria and other African countries have continued to lose as much as $50 bn annually as a result of illegal financial outflows.
Akutah described this trend as having negative impact on the economies of the continent with consequences on the quality of lives of the people.
Speaking in Lagos recently on the occasion of debate competition organised by members of the National Youth Service Corps in collaboration with the industrial trainees of the council, Akutah regretted that every effort to lift Africans out of poverty situation has been difficult.
The NSC CEO who was represented on the occasion by the Director of Human Resources of the Council, Mrs Ada Okam, such illicit financial outflows have made it difficult for the continent to grow and achieve the African agenda and the Sustainable Development Goals.
“From research, it is noted that Africa loses more than $50bn annually through illicit financial outflow”, he said during the event which had the theme “ “Effective whistleblowers protection mechanism: A critical tool in the fight against corruption’.
He identified corruption as a big phenomenon which has been affecting humanity.
He added, “its effect is negatively permeative and all-encompassing, touching on every facet of human society, as it retards national advancement, stability and prosperity.
“It is on this premise that the African Union has set aside July 11 every year as a day to remind everyone of the menace of corruption. This is according to the United Nations’ campaign to ensure a reduction in corruption and the promotion of transparency.”
The NSC CEO urged the continent to engage young men and women as integral part of the society in discussing national, continental and global issues.
He noted that the theme of the competition reflects greatly on the relevance of whistleblower and the importance of protection.
He described it as an advocacy for “effective coordination between investigative, prosecution and judicial systems” which will help in protecting the whistleblower.
He said that it is the policy of the NSC as contained in its Code of Conduct to protect the whistleblower.
According to him, “Recognising whistleblowing as a critical element for combatting corruption, there are institutions, laws and policies put in place at the national, regional and global levels to protect the whistleblower.
“The NSC Anti-Corruption and Transparency Unit is also responsible for the protection of whistleblowers in the council.”
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