Buhari seeks end illicit flow funds

You're referring to the recent statement made by President Muhammadu Buhari of Nigeria.

On February 24, 2023, President Buhari called for an end to the illicit flow of funds out of Nigeria, emphasizing the need for the country to stem the tide of capital flight and redirect the funds towards development projects.

In a statement, the President said: "We must work together to stop the illicit flow of funds out of our country. We must redirect these funds towards development projects that will improve the lives of our citizens."

He also emphasized the importance of transparency and accountability in the management of public funds, stating that "we must ensure that our public finances are transparent, accountable, and subject to scrutiny."

The President's call comes at a time when Nigeria is facing significant economic challenges, including a high level of corruption, poverty, and inequality. The country has been struggling to diversify its economy and reduce its dependence on oil exports, which has been a major source of revenue for the government.

The illicit flow of funds out of Nigeria is a significant challenge that has been exacerbated by corruption, tax evasion, and money laundering. According to estimates, Nigeria loses billions of dollars annually due to these illicit activities, which has a negative impact on the country's economic development and the well-being of its citizens.

By seeking an end to the illicit flow of funds, President Buhari is sending a strong message that his administration is committed to tackling corruption and promoting transparency and accountability in the management of public funds.