ICPC, CoDA Renew Pact On Asset Recovery, Illicit Financial Flow

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Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Coalition for Dialogue on Africa (CoDA) are set to strengthen their cooperation agreement towards tackling the illicit financial flows and providing support for the Common African Position on Asset Recovery (CAPAR).
The chairman of the ICPC, Dr. Musa Adamu Aliyu stated this yesterday during the visit of the executive director of CoDA and head of the secretariat of the African Union High-Level Panel on Illicit Financial Flows, Mrs Souad Aden-Osman, to his office.

Aliyu said, “The commission will continue to work with CoDA and support the fight against illicit financial flows. We are ready to help CoDA.
“We need to tackle the menace of illicit financial flows. There is an absolute need for us to come together to jointly fight and eradicate the menace until the battle is won and Nigeria and Africa are free from illicit financial flows.”

He assured that the commission would continue to be represented in the working group on the implementation of the recommendations of the African Union High-Level Panel on Illicit Financial Flows.
Earlier, Aden-Osman said that the organisation had on January 27, 2022, entered into a cooperation agreement with the ICPC on implementing CAPAR and reversing illicit financial flows.
She stated that the agreement was to regulate the relationship between the parties in pursuing their common objective towards advancing asset detection and identification, asset recovery and return, asset management as well as cooperation and partnership in Africa.

Aden-Osman disclosed that the African Union had in January 2015 adopted a special declaration on illicit financial flows towards addressing the increasing scale and extent of the menace from Africa.
On the Common African Position on Asset Recovery, she said that the Assembly of African Union Heads of State and Government adopted a common position during its 33rd Session in February 2020.