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How Nigeria Lost $157.5bn to Illicit Financial Flows-Buhari

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President Muhammadu Buhari
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By Mathew Dadiya, Abuja

Nigerian President, Muhammadu Buhari has disclosed that the country has lost an estimated $157.5 billion to illicit financial flows in nine years – between 2003 and 2012.

The President revealed this on Wednesday while quoting from the 2014 Global Financial Integrity Report in his address to the High-Level National Side-Event organised by the African Union Development Agency and New Partnership for Africa’s Development (AUDA-NEPAD) and the Economic and Financial Crimes Commission (EFCC) in New York, United States at the 74th United Nations General Assembly.

Buhari who spoke on the theme, “Promotion of International Cooperation to Combat Illicit Financial Flows and Strengthen Good Practices on Assets Recovery and Return to Foster Sustainable Development, ” noted that such massive loss of assets, resulted in dearth of resources to fund public services or to alleviate poverty in the country.

According to him, “This is why, as Africans, we have no choice but to break the back of corruption.”

Acknowledging lack of sufficient capital and corruption as impediments to socio-economic development of the continent, the President emphatically restated his administration’s anti-corruption campaign:

“That is why our government has made it a war we intend to win.  We will give all it takes to ensure there is no hiding place for purveyors of corrupt practices who are truly enemies of the people.”

Stressing the need to strengthen good practices on asset recovery and return, President Buhari said, “In the last five years, our government has made significant progress to curb corruption,” adding: “We have recovered millions of dollars stolen from our country.”

He noted, however, that “there are still a lot of other funds that are stuck in foreign bank accounts due to international laws, different jurisdictions and justice systems that make it difficult for repatriation.”

Describing Illicit Financial Flows as “illegal movement of funds from one country to another,” President Buhari lamented that, “These flows deplete Africa’s internally generated revenues, foreign exchange earnings, reduce tax revenues, drain natural resources, facilitate corruption and stunt private sector development.” 

Citing tax avoidance as another form of illicit financial flow, he quoted the Tax Justice Network and the International Monetary Fund to have estimated over US$200 billion per year as “being lost by developing countries when multinational enterprises do not pay taxes in the countries where they made the profit.”

“This amount is significantly higher than the annual development aid received by these countries which are estimated to be about US$143 billion,” he added.

He commended the organisers of the meeting designed to finding pragmatic ways to promote international cooperation to combat illicit financial flows and strengthen good practices on asset recovery and return, as an arm of sustainable development policies in Africa. 

President Buhari also lauded their “shared commitment to root out corruption from our continent.” 

The Nigerian leader said, “I am motivated by the belief that, if we join hands, we can bequeath to our children an Africa that is not defined by corruption.”

Emphasizing the imperative of international cooperation towards stemming the incidence of illegal financial flows, President Buhari said, “Any lasting solution to the above challenges will require international cooperation and coordination,” of African countries and their international counterparts.  

“This is one reason why the Nigerian Government supports this initiative of AUDA/NEPAD and remains committed until we ensure that there are no safe-havens for stolen assets from Africa,” he declared.

“I have high expectations for this meeting.  At the end of the deliberations, I expect other African leaders, to see the pragmatic ideas on how to strengthen our anti-corruption institutions to reduce or effectively eliminate Illicit Financial Flows, ” President Buhari said.

“We need ideas on how to return the stolen assets to their countries of origin.  We also need strategies on how to plug the loopholes that enable companies to avoid paying commensurate taxes in their countries of operations.  You should deliberate on practical ideas to enhance global acceptable assets tracing and freezing, and boost the recovery governance framework.”

The meeting was also attended by the Presidents of Zambia and Ethiopia. 

CRIME

Police Arrest Five Kidnappers, Recover N5m Ransom in Delta

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From Francis Sadhere, Delta

Operatives of the Delta State Police Command have recorded a major breakthrough in the fight against kidnapping in the state, with the arrest of five suspected kidnappers and recovery of N5 million ransom from the criminal gang.

In a press release issued by the Police Public Relations Officer, Bright Edafe, stated that the arrests were made during a series of coordinated operations carried out by the Command’s Special Anti-Kidnapping and Cyber Crime Squad and the CP’s Special Assignment Team.

According to the statement, on July 12, 2025, at about 6:30 am, operatives led by Godwin Osadolor tracked and apprehended one Sanusi Abdulahi at a hideout in Ogwashi-Ukwu, Oshimili North Local Government Area.

Abdulahi was reportedly found in possession of ₦5 million, believed to be part of a ransom paid by a recent kidnapping victim.

Preliminary investigations linked the gang to multiple kidnapping incidents in Ibusa, Ogwashi-Ukwu, Obulu-Okiti, Isele-Uku, and Isele-Asagba. The gang was also fingered in the abduction of a young woman in Ogwashi-Ukwu on July 9, 2025. Based on intelligence provided by Abdulahi, police raided hideouts in Second Deputy and Oko, both in Asaba, leading to the arrest of four other members of the gang.

Meanwhile, in a separate sting operation on July 9, 2025, along the Patani-Ughelli Expressway near the Unenurhie axis, operatives of the CP’s Special Assignment Team stormed the hideout of a notorious gang led by one Solomon Danisco, alias “Picolo.”

Other gang members include Nelson Jacob, Oruma Saturday, Olise Jude, Precious Urhobowin, and Whisky Rufus, also known as “Asawana,” a native of Ewu community.

The suspects reportedly engaged the police in a fierce gun duel. Six of them sustained severe gunshot wounds and were later confirmed dead at the hospital, while two others are receiving treatment under police custody.

Items recovered from the scene include four locally-made guns and 19 rounds of live cartridges.

Edafe reaffirmed the Command’s commitment under the leadership of Commissioner of Police Olufemi Abaniwonda to rid Delta State of criminal elements and ensure the safety of residents.

He also called on the public to continue supporting the police by providing credible information that could lead to the arrest of criminals.

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CRIME

Plateau Killings: Night Raid Assault Claims 20, Injure Many

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From Jude Dangwam, Jos

No fewer than 20 people were killed on Monday night in an attack by gunmen in the Bindi village, Ta-Hoss District of the Riyom Local Government Area of Plateau State.

The assault, which also left many injured, is the latest in a series of violent incidents that have plagued the state’s rural communities.

According to eyewitnesses, the attackers stormed the village while residents were asleep, launching a coordinated house-to-house onslaught.

Women, children and the elderly were among the victims, as many were unable to flee the violence in time. Survivors described the assailants as heavily armed.

Senator Pam Dachungyang, representing Plateau North, condemned the killings and expressed concern over what he described as a “War situation.

In a statement by his Special Adviser on Media, Eric Dung, the Senator said the recurring attacks, including previous ones in Jol and Rim villages, point to a deliberate effort to terrorize and displace farming communities.

“This cycle of daily, unprovoked attacks is an indictment on all of us. The situation in Bindi (Jebu) last night is beyond tragic and stands to be condemned by all. These are people whose primary occupation is farming, and the continued violence is not only destroying lives but also threatening food security and livelihoods,” Dachungyang said.

The Senator further disclosed that he had reached out to the leadership of the National Assembly to push for a more practical and coordinated military response aimed at dislodging the armed elements behind the attacks.

He also called for an urgent review and strengthening of the state’s security architecture, especially the Special Task Force (STF) responsible for peacekeeping in the area.

Also reacting, the Coalition for the Protection of Democracy (COPDEM), Riyom Chapter, issued a statement jointly signed by its Chairman, Gideon Manjal and Publicity Secretary, Gadu Dong, condemning the attack and calling it part of a broader campaign to displace indigenous people and seize ancestral lands.

“This assault occurred despite the visible presence of security forces in and around the area, including armored military assets. The identities and hideouts of these attackers are known to authorities, yet no meaningful action has been taken to dismantle them,” the group stated.

COPDEM accused both the state and federal authorities of negligence, stressing that repeated attacks on communities like Ta-Hoss, Jol, Rim and Bachi have occurred without adequate protection or justice.

The group called on President Bola Tinubu and Governor Caleb Mutfwang to authorise a full-scale military operation to flush out terrorist elements from Plateau’s regions.

It also urged the government to provide urgent humanitarian aid, trauma counselling and reconstruction support for the affected communities.

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CRIME

Police Crush Two Major Human Trafficking Syndicates, Rescue Children, Others

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From Sylvia Udegbunam, Enugu

In a bold and coordinated crackdown on organised human trafficking, the Nigeria Police Force have dismantled two major syndicates operating within the country, rescuing multiple victims, including children, pregnant women and foreign nationals, while arresting a total of 11 suspects across two states.

Recently, acting on credible intelligence, operatives of the Zone-13 Police Command executed a precision-led sting operation, targeting a deeply rooted child trafficking and baby factory network.

The operation led to the arrest of eight suspects from various locations, including Uzoamaka Ani (27), Joy Madu (52) and Victoria Onodu Akasike (56).

These individuals, during interrogation, confessed to active involvement in child theft, abduction, illegal adoption schemes, and the operation of unlicensed medical facilities functioning as baby factories. Their criminal activities were strategically spread across Enugu and Anambra States, targeting vulnerable women and children for exploitation and sale.

The victims rescued during the operation include a seven-month-old infant, a four-year-old child, and two heavily pregnant women, all held under captivity in a remote village. Both pregnant women, identified as indigenes of Ebonyi State, were reportedly lured and held for the purpose of forced births and subsequent sale of their newborns. The rescue was swift and executed without harm to the victims, who are now in safe custody and receiving necessary care.

Meanwhile, in a statement sent by the force public relations officer, force headquarters Abuja, Olumuyiwa Adejobi said that efforts have intensified to apprehend other members of the syndicate who managed to escape during the sting.

In a similar development, operatives of the Ondo State Police Command have successfully rescued a Ghanaian national, David Angerinya, who was trafficked into Nigeria under false pretenses. This operation was launched following a formal petition from the Interpol Liaison Office at Force Headquarters, Abuja, calling for immediate police intervention in a suspected case of transnational human trafficking.

Acting swiftly, the operatives initiated a targeted investigation that led to the arrest of three suspects: Hayford Nyamekye, Awine Alex, and Kojo Felix. Investigations revealed that these suspects are part of a wider international trafficking syndicate that specialises in deceiving individuals, particularly from neighbouring West African countries, with fake promises of employment and travel visas to countries like Canada.

During the operation, an additional thirty-nine Ghanaian nationals were discovered to have fallen victim to the same group. Many of them lacked valid travel documentation, while those in possession of passports presented expired papers, further underscoring the depth of exploitation. The victims were found in distressing conditions and are currently undergoing medical treatment.

The Inspector-General of Police, IGP Kayode Adeolu Egbetokun, commends the gallantry of all operatives involved in these successful operations, which further underscores the firm stance of the Nigeria Police Force against all forms of human trafficking, child exploitation, and transnational crimes.

Members of the public are encouraged to maintain vigilance and support ongoing efforts by reporting any suspicious individuals or movements to the nearest police station or command. The Force remains resolute in its duty to protect the vulnerable and bring perpetrators to justice, reinforcing the message that such crimes will not be tolerated under any guise.

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