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Punch Newspapers Sections Ife Ogunfuwa The United Nations Conference on Trade and Development and the United Nations Office on Drugs and Crime have started a pilot project using a new framework that measures illicit financial flows from trade in Nigeria, Afghanistan, Colombia and Ecuador. The UN agencies are also testing the framework in Mexico, Panama and Peru, a statement by UNCTAD said. The agency said more of the pilot projects had been planned for 2021 in other African and Asian nations. Evidence of Illicit financial flows in Nigeria showed that oil export mis-invoicing was at $44bn and import mis-invoicing at $45bn between 1996 and 2014, according to UNCTAD data.

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