Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has highlighted the urgent need for regional and global cooperation in the fight against corruption. Tuggar emphasized the detrimental impact corruption has on development and stability, particularly in Africa, at the 6th Annual General Assembly of the Network of Anti-Corruption Agencies in Africa (NACIWA) held in Abuja on Monday.
Corruption, according to Tuggar, is a pervasive issue that undermines institutions, erodes public trust, and exacerbates poverty and inequality. He pointed to Nigeria as a prime example, where corruption has intensified issues such as radicalization, insecurity, terrorism, and human trafficking.
Tuggar addressed the challenges faced by West African nations, particularly in border areas where criminal gangs exploit weak local governance to engage in smuggling and other illicit activities. He cited the emergence of Boko Haram, banditry, and drug trafficking across Nigeria and its neighbouring countries as evidence of these challenges.
The minister emphasized the necessity of tracking financial flows to effectively combat these issues and stressed the role of local governance in strengthening regional cooperation. Nigeria, in conjunction with the Economic Community of West African States (ECOWAS), is actively participating in cross-border diplomacy to enhance transnational cooperation in development planning.
Tuggar highlighted the problem of illicit financial flows, which siphon billions from Africa annually. These funds, often hidden in tax havens and opaque financial systems, undermine economic stability and development.
The African Union’s Agenda 2063 and the African Peer Review Mechanism (APRM) were discussed as key initiatives for promoting good governance and accountability. Additionally, the African Continental Free Trade Area (AfCFTA) was noted as a significant opportunity for standardizing regulations and improving regional cooperation.
Ambassador Tuggar also underscored the importance of global cooperation in combating corruption and illicit financial flows. He pointed to the United Nations Resolution on Tax Cooperation, which Nigeria champions, as a means to improve international tax cooperation and eliminate financial safe havens.
He called on the international community to support Africa’s anti-corruption efforts by enhancing transparency in global financial systems and closing loopholes that facilitate illicit activities. Tuggar emphasized the role of advanced technology, including AI and blockchain, in tracking and repatriating stolen assets.
The minister advocated for more equitable international legal frameworks to address corruption and financial crimes, stressing the need for a balanced global approach to tackling corruption.
