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Reps probe reports on $348bn illicit financial flow, loss of public funds tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
By Adedayo Akinwale
The House of Representatives has summoned the Minister of Finance, the Heads of the Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC), the Central Bank of Nigeria (CBN) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Nigerian Financial Intelligence Unit (NFIU), the Nigerian Export-Import Bank (NEXIM), and the Nigerian National Petroleum Corporation (NNPC) over the continuous loss of government revenue to illicit financial flows (IFFs).
The House issued the summons following the adoption of a motion moved at plenary on Thursday by Hon. Ochiglegor Idagbo.
Moving the motion, Idagbo explained that illicit financial flow (IFF) is the cross-border transfer of capital that was illegally earned, transferred or utilised and often consists of commercial money laundering, tax evasion and proceeds of corruption and criminal activities.
James Emejo in Abuja
The chief executives of export promotion and regulatory agencies have expressed excitement and support for one of the country’s rising indigenous food manufacturing companies, which is export- oriented.
Halibiz Industries Limited, founded by its President, Alhaji Adamu Aliyu, has a primary aspiration of providing healthier, quality and affordable products to Nigeria, Africa and the world at large.
Giving their individual and collective impressions after a facility tour of the company, located at the Idu Industrial Centre, Abuja, the Executive Secretary, Nigeria Investment Promotion Commission (NIPC), Ms Yewande Sadiku, and Executive Director/Chief Executive, Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo, as well as the Managing Director/Chief Executive, Nigerian Export-Import Bank (NEXIM), Mr. Abba Bello, all said they were impressed by the level of accomplishments by the company and pledged to assist the company in meeting its aspirations.