Edun Faults Overdependence on Foreign Loans

Africa Loses $88bn Annually to Illicit Financial Flows, Edun Warns

By Abiodun Folarin Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun has raised concern over Africa’s mounting revenue losses, warning that the continent forfeits an estimated $88 billion annually to illicit financial flows (IFFs), a development he described as a critical threat to sustainable growth. Speaking at the 5th Session of the Sub-Committee on Tax and Illicit Financial Flows of the African Union on Tuesda…

Edun Faults Overdependence on Foreign Loans

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Tuesday warned that Africa and Nigeria cannot continue to rely on external borrowing while losing huge resources to illicit financial flows, insisting that domestic revenue mobilisation must take centre stage. Speaking at the opening of the 5th Session of the African Union Sub-Committee on Tax and Illicit Financial Flows in Abuja, Edun said, “Africa cannot sustainabl…

TJNA to advance Africa’s tax agenda at 5th AU STC sub-committee meeting | Tax Justice Network Africa (TJNA)

The Tax Justice Network Africa (TJNA) will participate in the 5th session of the African Union (AU) sub-committee on tax and illicit financial flows (IFFs), where it will advance discussions on domestic resource mobilisation, tax reforms, and efforts to curb illicit financial flows across the continent.The meeting, held under the theme “Building the Africa We Want through Tax and Fiscal Policy Reforms to Support Economic Growth and Domestic Reso…