The Nigerian Shippers’ Council (NSC) on Thursday expressed worries over the $50 billion Nigeria and other African country’s losses to illicit financial outflows.
The Executive Secretary/CEO of the NSC, Pius Akutah said that illicit financial outflows negatively impact the quality of life in Africa as every effort at lifting Africans out of poverty, feeding, education and provision of basic services to Africans is retarded.
Akutah stated this on Thursday during a debate competition for secondary schools in Apapa organised by 2024 National Youth Service Corps Members in collaboration with Industrial Trainees in Nigerian Shippers’ Council with the theme: “Effective Whistleblowers Protection Mechanism: ” A Critical Tool in the Fight Against Corruption,” held in Lagos.
Akutah who was represented by the agency’s Director of Human Resources, Mrs Ada Okam said that illicit financial outflow makes it difficult for Africa to grow as a continent and achieve the African agenda and the global Sustainable Development Goals.
According to him, corruption is a phenomenon that affects the generality of humanity, rich or poor, young or old, saying corruption has no gender and its effect is negatively permeative and all-encompassing, touching on every facet of human society, as it retards national advancement, stability and prosperity.
“It is on this premise that the African Union has set aside July 11 every year as a day to remind everyone of the menace of corruption. This is according to the United Nations’ campaign to ensure a reduction in corruption and the promotion of transparency.
From research, it is noted that Africa loses more than $50 billion annually through illicit financial outflow.
Based on this, we need to begin to engage our young minds in discussions of issues of national, continental and global interests, as they are an integral part of society and in this case, it is corruption and ways to combat the monster.
“A day such as this is to help us share ideas on how to reduce corruption, assess gains so far made in the fight against corruption as well as examine areas to be strengthened,” he explained.
Speaking on the theme of the debate, he added that it would help to reflect on the importance of the whistleblower and the need for his protection, adding that it is an advocacy for effective coordination between investigative, prosecution and judicial systems to ensure the protection of the whistleblower for an effective whistleblowing mechanism as a tool for combatting corruption in the society.
“Recognizing Whistleblowing as a critical element for combatting corruption, there are institutions, laws and policies put in place at the national, regional and global levels to protect the whistleblower.
“In the Nigerian Shippers’ Council, there is a policy to protect the whistleblower as provided in the NSC Code of Conduct. The NSC Anti-Corruption and Transparency Unit (ACTU) is also responsible for the protection of a whistleblower in the Council.
“We are aware that through the efforts of whistleblowers in our country, there have been recoveries of billions of Naira, which have been plunged into the development of critical infrastructure. However, there’s little evidence of the presence of effective measures for the protection of whistleblowers as they face retaliation. This is the big challenge,” he stated.
He advocated that a whistleblower should therefore be protected to encourage him to voluntarily report instances of violation of financial regulations, mismanagement of public funds and assets, financial malpractices, fraud and theft to facilitate the recovery of our economy, our humanity and build a very secure future for all, without fear of consequent reprisals
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