Natural Resources
VP Osinbajo urges destination countries to insist on repatriation of illicit funds
Vice President Yemi Osinbajo has urged leaders of destination countries to insist on repatriation of illicit funds and proceeds. Osinbajo’s spokesman, Laolu Akande, in a statement on Monday in Abuja, said the Vice President made the submission at the virtual inauguration of a publication by the UN Conference on Trade and Development (UNCTAD) on the impact of illicit financial flows (IFFs) on African Development. Osinbajo called for an overhaul of the international tax system in order to tackle the scourge. “The enormity of efforts required to tackle illicit financial flows is evident in the many dimensions the scourge presents itself. “It manifests through harmful tax policies and practices, abusive transfer pricing, trade mis-pricing and mis-invoicing illegal exploitation of natural resou...
UN encourages Africa to invest on digital transformation
The UN Economic Commission for Africa (UNECA) has encouraged African countries to make right investments toward developing a digitally transformed economy. Mr Jean-Paul Adam, Director, Technology, Climate Change and Natural Resources at UNECA, made the call on Tuesday during a webinar monitored in Abuja. The webinar was organised by Africa Information and Communication Technology Alliance (AfICTA) in collaboration with UNECA with the theme “Unlocking Africa’s Digital Potential Amid COVID-19”. Adam said that the emergence of COVID-19 pandemic had caused a disruption in activities, hence the need for a paradigm shift. “Africa needs to address issues that have limited their digital growth. There are issues of gender imbalance, speed of bandwidth, poor internet access. “When we get some of the...
