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Fighting corruption, illicit financial flows in Nigeria is non-negotiable – Buhari
“For my administration, fighting corruption and Illicit Financial Flows (IFFs) in Nigeria is non-gegotiable’, This was the statement by Muhammadu Buhari, President of the Federal Republic of Nigeria to Thabo Mbeki, former President of the Republic of South Africa and Chair of the AU/ECA High-Level Panel on Illicit Financial Flows from Africa.
The Chair visited the President who is also the current Champion of AU Anti-Corruption Campaign, to follow up on the efforts of AU Member States to implement the recommendations of the High-Level Panel Report (endorsed by the AU in 2015) and ultimately tackle IFFs nationally. The visit also saw the Chair call upon the President in his capacity as the AU Anti-Corruption Champion to lead the efforts to engage action from other AU Member States towards tackling IFFs at the national, regional and continental level.
Prior to the Presidential visit, Mr. Mbeki met with representatives of the Ministries, Departments and Agencies (MDAs) of the Federal Government of Nigeria which deal with Financial and legislative matters to gain an understanding of the country’s ongoing efforts to tackle Illicit Financial Flows.
In his remarks to the MDAs, the Mbeki recalled the 2015 Special Declaration to address IFFs, which was a realization by African leaders of the excessive losses due to illicit outflows. “The view was that the continent was losing resources which should have been available for its development to these illicit outflows,” he said. He emphasized the level of losses from IFFs, which at the time of the Panel’s Report was 50bn USD annually, but has now grown to about 80bn annually. He also indicated on a more positive note that, “Africa has led this agenda and brought it to global attention. This was evident when the African Heads of States asked our Panel to help address this issue”.
Mr. Mbeki highlighted some of the recommended actions to address these IFFs saying that Nigeria and in turn, all other AU member states need legislation to deal with money laundering, financial intelligence and tax evasion. He underlined that this issue also requires action from global partners stressing, “since these funds leave the continent to destination countries, this problem cannot be solved by Africa alone. He acknowledged the capacity constraints nationally and continentally, saying, “As Africans, we must say that having identified the nature and size of the problem, we must work to address the issue. We need to act on this matter in any capacity necessary.”
The Deputy Executive Secretary and Chief Economist of the United Nations Economic Commission for Africa (ECA), Abdalla Hamdok for his part said that as a result of the Chair’s leadership, Africa was able to put the challenge of illicit finance on the global map. He referred to the Panel’s work and Report, whose impact has led to several important continental and global frameworks, including the Addis Ababa Action Agenda, as well as its inclusion in the Sustainable Development Goals.
As the Chair is required to report back to the AU Assembly of Heads of States and Government annually on the progress of implementing the recommendations of his Panel’s Report, Mr. Hamdok said, “Several actions are being carried out, including this visit to Nigeria to determine the state of reaction to this issue, as well as “a technical project which is being worked on by the ECA to help capacitate AU member states against IFFs. Mr. Hamdok also stressed that all these efforts and those not yet mentioned are still, however, based on political will, which is crucial to reducing IFFs from the continent.
Abubakar Malami, Attorney General of the Federation (AGF) for his part elaborated on Nigeria’s efforts to implement strategies to curb corruption and reduce IFFs. “We have taken major multi-dimensional policy decisions relating to institutions, legislations…and above all, recognizing the need for international collaboration as it relates to the fight against corruption and the minimization of illicit financial flows”. He noted that through legislative processes, Nigeria has “succeeded in establishing and capacitating institutions which are mandated with the statutory role of working to enforce financial regulations as well as tackle various misconducts including corruption and IFFs.”
He also detailed the efforts of the country in fighting corruption and IFFs through the deployment of relevant technology and international collaboration. Additionally, he highlighted the need for collaboration to make it more difficult for IFF perpetrators to move freely, invest in businesses and benefit from the proceeds of crime. He stressed that “we must work to repatriate these funds from the external perpetrators while working to detain them.
The Permanent Secretary of Finance, Mahmoud Isa-Dutse delivered remarks on behalf of the Minister of Finance for Nigeria. In the speech, he commended the Chair and Panel for fighting this plague saying that IFFs have robbed Africa of the required wealth to help build schools, hospitals, roads and other necessary infrastructure. He added that the quest for Africa’s financial development will be accelerated if the efforts to recover these lost funds are successful and the continent’s development will no doubt receive a necessitated boost. In this regard, he spoke about the work of the Nigerian Extractive Industry Transparency Initiative (NEITI), which is being led by the Minister of Finance. This effort has helped the country recover lost assets from taxes because of the increased transparency.
The two-day event culminated with a technical workshop with Thabo Mbeki. Raymond Baker, President, Global Financial Integrity and Member of the High-Level Panel as well as the Secretariat of the Panel meet with the representatives of the financial agencies and departments. Part of the objectives of the workshop was to discuss the ECA’s proposed Development Assistance Project which aims to support Nigeria and other member states in the fight against IFFs. Following this visit, the Secretariat is expected to further engage the government of Nigeria and foster collaboration to build its capacity to stem IFFs from the country.
The lawmaker representing Ibarapa East/Ido Federal Constituency in the House of Representatives, Engr. Aderemi Oseni, has mourned the death of a chieftain of the All Progressives Congress (APC) in Oyo State and former member of the Oyo State House of Assembly, Hon. Akeem Abimbola Oladipupo, popularly known as Able, describing his demise as a painful loss to the progressive family.
Oladipupo, who represented Ibadan North-West Constituency in the Oyo State House of Assembly, was widely regarded as a grassroots politician and committed party loyalist until his passing.
Oseni, who is also the Chairman, House Committee on Federal Roads Maintenance Agency and the APC candidate for Oyo South Senatorial District, said the late politician’s death had created a vacuum within the party and among those who benefitted from his unwavering commitment to public service.
In a condolence statement issued on Monday by his Media Aide, Idowu Ayodele, and made available to journalists in Ibadan, the Oyo State capital, the federal lawmaker described the late Oladipupo as a dependable progressive, humble political actor and loyal party stalwart whose impact would remain indelible.
He said the deceased dedicated his life to serving humanity, strengthening the progressive movement and supporting the aspirations of many at the grassroots.
Oseni said, “The death of Hon. Akeem Abimbola Oladipupo (Able) came to me as a rude shock. Oyo State and the progressive family have indeed lost a committed, loyal and selfless leader whose passion for service, humility and dedication to the people stood him out.
“He was not just a politician but a bridge-builder, a dependable ally and a grassroots mobiliser who believed strongly in the ideals of our great party. His contributions to the growth of the APC in Oyo State and his service to humanity will remain unforgettable.”
The APC senatorial candidate noted that the late former lawmaker remained steadfast in promoting peace, unity and political development, adding that his simplicity and accessibility endeared him to many across political divides.
According to Oseni, the late politician’s legacy of service and sacrifice would continue to inspire younger politicians and party faithful.
He, however, urged members of the APC, associates and family members of the deceased to take solace in the remarkable life he lived and the positive impact he made during his lifetime.
Oseni also prayed for the repose of the deceased’s soul and for God to grant his family the fortitude to bear the painful loss.
State governors have proposed a new national minimum wage of N100,000 for Nigerian workers as part of efforts to cushion them from the biting effects of inflation and the rising cost of living.
Governor AbdulRahman AbdulRazaq of Kwara State, who is also the Chairman of the Nigeria Governors’ Forum (NGF), disclosed the proposal on Saturday in a post by the state government’s official Facebook page. He said the move aims to improve workers’ welfare while ensuring that government finances remain sustainable.
“State governments recognise the urgent need to improve workers’ welfare in response to the current economic realities facing Nigerians,” AbdulRazaq said.
“We are actively engaging with the Federal Government and organised labour to arrive at a wage structure that is fair to workers and sustainable for government finances.”
The NGF chairman explained that ongoing discussions are focused on balancing the need to boost workers’ purchasing power with the capacity of governments to deliver essential public services and development projects.
“The goal is to improve the living conditions of workers while ensuring that states can continue to meet their obligations and sustain projects that directly impact citizens,” he added.
The proposed N100,000 minimum wage is expected to intensify national debates on salaries, inflation, and broader economic reforms as Nigerians continue to contend with rising food prices, transportation costs, and other living expenses.
Currently, Nigeria’s statutory minimum wage stands at N70,000 per month. Some states, including Lagos, Rivers, and Imo, are already paying above the national benchmark to support workers amid the country’s economic challenges.
Meanwhile, the Nigeria Labour Congress (NLC) has continued to call for a comprehensive review of salaries, insisting that workers deserve a living wage that reflects present-day economic realities rather than merely guaranteeing survival.
The average retail price paid by consumers for Premium Motor Spirit, popularly known as petrol, rose to N1,532.93 per litre in April 2026, representing a 23.69 per cent increase compared to the N1,239.33 recorded in the corresponding period of 2025, findings by the National Bureau of Statistics (NBS) have shown.
The sharp rise in petrol prices came amid mounting inflationary pressure and worsening living costs, with Nigerians grappling with soaring transportation and food expenses that have continued to shrink household purchasing power.
The NBS disclosed this in its Premium Motor Spirit (Petrol) Price Watch for April 2026, released on Friday.
The report further showed that on a month-on-month basis, petrol prices rose by 18.97 per cent from N1,288.54 recorded in March 2026, underscoring persistent volatility in the downstream petroleum market.
A breakdown of prices across states revealed that Yobe recorded the highest average retail price for petrol at N1,599.05 per litre during the review period.
Edo and Bauchi followed closely with average prices of N1,595.74 and N1,589.07, respectively.
However, Niger residents paid the least for petrol at an average of N1,403.89 per litre, while Sokoto and Katsina recorded N1,404.16 and N1,406.28 respectively.
At the zonal level, the South-South recorded the highest average retail price at N1,566.76 per litre, while the North-West posted the lowest at N1,508.81.
The latest petrol price increase comes as millions of Nigerians continue to battle the ripple effects of rising inflation, with higher energy costs worsening transportation fares and the prices of essential commodities.
Similarly, the NBS said the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas, also known as cooking gas, rose by 13.73 per cent month-on-month to N8,706.93 in April 2026 from N7,655.73 recorded in March.
On a year-on-year basis, the price increased by 10.42 per cent from N7,885.60 recorded in April 2025.
Lagos recorded the highest average price for refilling a 5kg cylinder at N9,745.10, followed by Nasarawa at N9,451.70 and Bayelsa at N9,422.74.
In contrast, Anambra recorded the lowest average price at N7,204.76, while Ondo and Ogun followed with N7,239.49 and N7,825.75, respectively.
At the regional level, the North-West recorded the highest average retail price for refilling a 5kg cylinder at N9,025.07, followed by the North-East at N8,847.16, while the South-East posted the lowest average price at N8,224.37.
Also, the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 13.89 per cent month-on-month to N22,382.20 in April 2026 from N19,652.83 in March.
Compared to April 2025, the price rose by 10.43 per cent from N20,268.06.
According to the NBS LPG Price Watch for April, Katsina recorded the highest average retail price for refilling a 12.5kg cylinder at N25,596.71, followed by Kogi at N24,558.25 and Gombe at N24,438.97.
Ogun recorded the lowest average price at N19,564.36, while Bauchi and Anambra followed at N20,178.87 and N20,511.90 respectively.
The North-West recorded the highest zonal average retail price for refilling a 12.5kg cylinder at N23,276.95, followed by the North-Central at N22,865.29, while the South-East posted the lowest average at N21,060.92.
The latest figures signal growing pressure on household energy costs, raising concerns over the implications for inflation and the cost of living in the coming months.
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