Human Rights

UN UNANIMOUSLY ADOPTS NIGERIA-SPONSORED RESOLUTION ON ILLICIT MONEY FLOWS

The United Nations General Assembly has unanimously adopted the Nigeria-sponsored resolution on Promotion of International Co-operation to Combat Illicit Financial Flows to foster sustainable development.

The resolution was adopted by the General Assembly Thursday after receiving strong support at various levels from members of the African Group at the UN as well as from the Groupf 77 plus China (G-77 1).

The resolution reiterates “deep concern about the impact of illicit financial flows, in particular those caused by tax evasion and corruption, on the economic, social and political stability and development of societies.

Akinremi Bolaji, the Nigerian Minister Plenipotentiary and Head of the UN’s Second Committee, reiterated his earlier calls to members to pursue policy coherence and create an enabling environment to combat illicit financial flows.

It is important to remind ourselves that the attainment of sustainable development by most developing countries, especially African States, would remain a puzzle unless the UN fulfills its role as a veritable platform for facilitating co-operation among member states as well as with the UN system,” he said.

He added that it was essential for UN member States to co-operate among themselves and with other stakeholders to provide necessary support for national efforts in combating illicit financial flows, for the attainment of the 2030 Agenda for sustainable development.

He called on international financial and monetary institutions and systems to engage their expertise and mandates to combat such flows and assist in the recovery of stolen assets.

He said their activities, including those of the United Nations Office on Drugs and Crime (UNODC), should move beyond data collection to providing intelligence leads to assist in forestalling and recovering them.

Source: NAM NEWS NETWORK