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In the early hours of Monday, November 6, unknown assailants stormed a locality of Mamfe in Egbekaw town, Manyu Division of the South West Region of Cameroon, and opened fire on the residents while setting fire to several houses. According to authorities, the overnight attack left at least 20 civilians dead, however, local accounts suggest a higher death toll.
It’s a known fact that African economies have in the last two decades, lost between trillions of dollars to illicit financial flows that’s nearly equal to the
For over two decades, the issue of Illicit Financial Flows (IFFs) has been a major concern for the Africa as assets and funds running into billions of dollars continue to find its way out of the continent as a result of corrupt public servants and multinational corporations. Their destination is the Western and European countries.
Though stakeholders including the African Union Member-States have played significant roles in the international efforts to combat these opaque and destabilizing transfers of capital, such efforts have not yielded the desired goal.
African countries, including Nigeria, have been advised to arrest the alarming rate of corruption and Illicit Financial Flows (IFFs) in order to develop and meet the Sustainable Development Goal targets. The advice was given by the Head of Secretariat of the African Union High Level Panel on IFFs and the Working Group on Common Africa