The Federal Inland Revenue Service (FIRS) has announced plans to host a high-level national conference aimed at addressing the growing threat of Illicit Financial Flows (IFFs) and enhancing Nigeria’s domestic resource mobilisation efforts.
According to a statement issued by Dare Adekanmbi, Special Adviser on Media to FIRS Chairman, Dr. Zacch Adedeji, the two-day event will take place from July 22 to 23 at the Transcorp Hilton Hotel in Abuja. Themed “Combating Illicit Financial Flows: Strengthening Nigeria’s Domestic Resource Mobilisation,” the conference is part of ongoing efforts by the government to reinforce financial integrity and increase national revenue.
The conference will bring together a cross-section of experts and stakeholders, including policymakers, tax administrators, law enforcement agencies, anti-corruption bodies, financial analysts, and international development partners. A key highlight of the event will be a keynote address by Honourable Irene Ovonji-Odida, a distinguished member of the United Nations High-Level Panel on International Financial Accountability, Transparency and Integrity (FACTI Panel). The event will be chaired by the Minister of State for Finance, Dr. Doris Uzoka-Anite.
Dr. Adedeji noted that FIRS has already implemented several initiatives to combat IFFs, including enhanced compliance mechanisms, improved transparency around beneficial ownership, and the deployment of technology to detect tax evasion, trade mispricing, and capital flight.
“We have taken decisive steps to confront the challenge of illicit financial flows. We’ve launched targeted training programmes for our staff to identify and address these activities and established a dedicated Proceeds of Crime Management and Illicit Financial Flows Coordinating Directorate (POCM-IFF),” Adedeji said.
He added that the agency’s goal is to ensure that taxes are optimally collected and utilised for national development. “Taxes play a vital role in financing government programmes, and curbing IFFs is essential to achieving fiscal sustainability.”
The Federal Government had earlier inaugurated an Inter-Agency Committee on Stopping IFFs from Nigeria, which includes FIRS, the Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Economic and Financial Crimes Commission (EFCC), the Nigeria Customs Service (NCS), the Central Bank of Nigeria (CBN), and the Securities and Exchange Commission (SEC).
Speaking ahead of the event, Ovonji-Odida expressed hope that the conference will spark greater awareness and commitment to addressing IFFs. “Nigeria’s efforts to fight illicit financial flows require a united front and consistent action. This conference can catalyse the needed momentum,” she said.
The FIRS conference is expected to produce actionable strategies to plug financial leakages, strengthen tax compliance, and protect Nigeria’s economic sovereignty.
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