The Federal Inland Revenue Service (FIRS) has finalized plans to hold a two-day National Conference on Illicit Financial Flows (IFFs) aimed at enhancing Nigeria’s domestic resource mobilization, increasing revenue, and protecting the nation’s financial integrity.
Dare Adekanmbi, Special Adviser on Media to the FIRS chairman, Dr Zacch Adedeji, in a statement said the conference will hold in Abuja between 22nd and 23rd July 2025.
Dare said, “The high-level gathering has the theme ‘Combating Illicit Financial Flows: Strengthening Nigeria’s Domestic Resource Mobilisation’, will serve as a platform for reflection on actionable solutions, reinforcing the Federal Government’s commitment to protecting financial integrity and ensuring that domestic revenue is fully harnessed for national development.”
The event is expected to bring together experts from various fields, including policymakers, tax administrators, law enforcement agencies, anti-corruption agencies, financial experts, and international stakeholders.
“A key member of the United Nations High Level Panel on IFF, also known as the FACTI Panel, Hon. Irene Ovonji-Odida will deliver a keynote address while the Minister of State for Finance, Hon. (Dr) Doris Uzoka-Anite will chair the conference,” the statement added.
The statement quoted the FIRS boss Adedeji as saying that the conference will spotlight the agency’s “intensified efforts in tackling IFFs, including strengthening compliance mechanisms, enhancing beneficial ownership transparency, and leveraging technology to detect and deter tax evasion, trade mispricing, and other illicit outflows.”
“Before now, we have set in motion machinery to tackle IFFs by approving capacity building programmes for staff members of the agency on how to identify and block IFFs, and to increase revenue collection from the multinational corporations.
“In sustaining this, we also approved the establishment of Proceeds of Crime Management and Illicit Financial Flows Coordinating Directorate (POCM-IFF), which is pivotal to addressing the menace. Taxes play a very strategic role in the nation’s economy.
“Before now, the Federal Government of Nigeria had established an Inter-Agency Committee on Stopping IFF from Nigeria in its efforts to curb the illicit flows. The committee comprises FIRS, Nigerian Financial Intelligence Unit, Independent Corrupt Practices and Other Related Offences Commission, Economic and Financial Crimes Commission, Nigeria Customs Service, Central Bank of Nigeria, and Securities and Exchange Commission, among others,” Dare added.
