President Muhammadu Buhari on Sunday delivered an Address on “Illicit Financial Flows & Corruption: The Challenge of Global Governance”, at the Opening Ceremony of the #ParisPeaceForum , held at the Grande Halle de la Villette, & attended by about 70 world leaders and governments. Below are key points of his address
“Our experience in Nigeria is that financial crimes, such as corruption and fraudulent activities, generate enormous unlawful profits which often prove so lucrative that the threat of a jail term is not sufficient to deter perpetrators.
A more powerful deterrent is to ensure that profits and assets generated from illicit financial flows and corruption are recovered and returned to countries of origin.
We must crack down on safe havens for corrupt assets. I also advocate sanctions by professional bodies against transactional middlemen (lawyers, bankers, brokers, public officials etc) who facilitate illicit financial flows”
– President @MBuhari #PMBInParis