Tuesday, 29 September 2020 02:27

FG urges destination countries to repatriate illicit funds

The Vice-President, Prof. Yemi Osinbajo, has urged leaders of destination countries to insist on repatriation of illicit funds and their proceeds.

This was contained in a statement from the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, titled ‘Tackling illicit financial flows: We must pay particular attention to reform of international tax system, says Osinbajo at UN forum’.

The statement said he made the call on Monday at the virtual press launch of a publication by the United Nations Conference on Trade and Development on the impact of illicit financial flows on African development.

Leading the call for an effective global action against illicit financial flows and related vices, Osinbajo called for an overhaul of the international tax system in order to tackle the scourge.

Osinbajo said, “The enormity of efforts required to tackle illicit financial flows is evident in the many dimensions the scourge presents itself.

Calling for an urgent global action, the Vice-President said leaders of destination countries of illicit funds and their proceeds must demonstrate the will to tackle the menace.

 

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