The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered a bank account operated by a foreign national allegedly used to collect payments from Nigerians seeking to obtain a questionable six-week bachelor’s degree abroad.
The discovery was announced by ICPC Chairman, Dr. Musa Adamu Aliyu, during a stakeholders’ advocacy event on asset tracing, recovery and management held Tuesday in Abuja. The event was organised by the Centre for Fiscal Transparency and Public Integrity (CeFTPI), with support from the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
“Within some weeks, we were able to discover that a foreigner opened an account in Nigeria while Nigerian students were paying money into the account to obtain that six-week degree,”;; Aliyu revealed.
“We were able to track the account and obtain a civil forfeiture order. We have been trying to ensure that the culprits are brought to book, especially those that are beyond our shores.”;;
He called for greater synergy among anti-corruption agencies to ensure that perpetrators of financial crimes are not allowed to enjoy the proceeds of their actions.
Also at the event, Chairman of the Code of Conduct Bureau (CCB), Dr. Abdullahi Bello, disclosed that an ongoing audit of over 10,000 public servants’ asset declarations has revealed that about 20 percent of them are false.
On a broader continental scale, the Director-General of GIABA, Edwin Harris, lamented the growing trend of illicit financial flows out of Africa. Citing a report by former South African President Thabo Mbeki under the auspices of the UN Economic Commission for Africa, Harris noted that while $50 billion was previously estimated to be lost annually, the current figure now stands between $88 billion and $94 billion.
CeFTPI Executive Director, Umar Yakubu, said the event brought together key stakeholders from anti-graft institutions, civil society, the judiciary and international partners to develop innovative mechanisms for transparency, citizen engagement and accountability in asset recovery efforts.
