The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered a bank account operated by a foreign national allegedly used to collect payments from Nigerians seeking to obtain a questionable six-week bachelor’s degree abroad.
The discovery was announced by ICPC Chairman, Dr. Musa Adamu Aliyu, during a stakeholders’ advocacy event on asset tracing, recovery and management held Tuesday in Abuja. The event was organised by the Centre for Fiscal Transparency and Public Integrity (CeFTPI), with support from the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
“Within some weeks, we were able to discover that a foreigner opened an account in Nigeria while Nigerian students were paying money into the account to obtain that six-week degree,” Aliyu revealed.
“We were able to track the account and obtain a civil forfeiture order. We have been trying to ensure that the culprits are brought to book, especially those that are beyond our shores.”
He called for greater synergy among anti-corruption agencies to ensure that perpetrators of financial crimes are not allowed to enjoy the proceeds of their actions.
Dr. Abdullahi Bello, the chairman of the Code of Conduct Bureau (CCB), also stated during the occasion that around 20% of the asset declarations made by over 10,000 public personnel are fraudulent, according to an ongoing audit.
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Edwin Harris, the Director-General of GIABA, bemoaned the increasing tendency of illegal money flows out of Africa on a larger continental scale. Citing a research by former South African President Thabo Mbeki under the auspices of the UN Economic Commission for Africa, Harris observed that although $50 billion was previously projected to be wasted yearly, the current amount currently sits between $88 billion and $94 billion.
CeFTPI Executive Director, Umar Yakubu, said the event brought together key stakeholders from anti-graft institutions, civil society, the judiciary and international partners to develop innovative mechanisms for transparency, citizen engagement and accountability in asset recovery efforts.
