Realnews Magazine Celebrates 11th Anniversary with a High-Profile Lecture | Cliptv Online

Leading figures from the worlds of finance, government, and international organizations gathered to address the issue of illicit funds flow in Africa.

By Abraham Adaranijo

Realnews Magazine Online celebrated its 11th Anniversary with a high-profile lecture held at the Sheraton Hotel in Lagos on Tuesday, November 7, 2023. The event brought together prominent individuals from various sectors, highlighting the magazine’s commitment to fostering policy-oriented discussions aimed at the development of Nigeria and Africa as a whole.

This year’s anniversary lecture was dedicated to discussing the “Threats of Illicit funds flow to the African Economy,” a topic of significant concern due to the adverse effects of such activities on African economies. Notably, Nigeria has faced annual losses of $18 billion to illicit financial flows (IFFs) through the banking sector, according to Mr. Auwal Musa Rafsanjani, the executive director of Civil Society Legislative Advocacy Centre (CISLAC) and head of Transparency International (TI) Nigeria.

Mr. Rafsanjani, in his presentation on October 22, emphasized the need to strengthen measures to prevent money laundering and IFFs. He highlighted the role of the banking sector in money laundering and called for comprehensive actions, including taxing bank executives and enforcing full disclosure of financial transactions.

The anniversary lecture series, a tradition since 2014, has previously focused on topics such as elections, the economy, security, leadership challenges in Africa, political transitions, oil and gas, African market integration, and youth drug abuse. The selection of this year’s theme underscores the urgent need to address the detrimental impact of illicit funds flow on African economies, particularly as they result in reduced revenue for governments.

The event featured a distinguished Guest Speaker, Mr. Edwin W. Harris Jr., the Director-General of the ECOWAS Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), based in Senegal. His presence at the event highlighted the importance of the topic and the commitment to finding solutions.

Realnews Magazine expressed gratitude to Dr. Baba Y. Musa, the Director-General of West African Institute for Financial and Economic Management (WAIFEM), for his efforts in ensuring Mr. Harris’s presence. Prominent figures, including Mr. Mohammed Bello-Koko, the Managing Director of the Nigerian Ports Authority (NPA) and Chairman of the event, as well as Mr. Ahmed Kuru, Managing Director of the Assets Management Corporation of Nigeria (AMCON), were also in attendance.

The distinguished audience included Aminu Maida, Managing Director of the Nigerian Communications Commission (NCC), who was represented by Reuben Mouka, Director of Public Affairs. The event also welcomed experts in the field, such as Kayode Adedayo, Director of Proceeds of Crime Department at the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and Felix Obiamalu, Associate Director of the National Financial Intelligence Unit (NFIU).

Maureen Chigbo, the Publisher of Realnews Magazine, emphasized the importance of investigative, robust, and excellent journalism in her welcome address. She called on journalists to ensure that the discussions from the event reach audiences not only in Africa but also around the world.

Realnews Magazine, known for its investigative reporting, plans to continue its mission of contributing to national development by providing an open platform for discussions among professionals, scholars, technocrats, and policymakers.

Chigbo also expressed appreciation for the support of government institutions and corporate organizations that made the anniversary lecture possible through their advertisements and contributions. These institutions included the Nigerian Content Development Monitoring Board, Nigerian Ports Authority, Nigerian Communications Commission (NCC), Nigerian National Petroleum Company Limited, FirstBank of Nigeria, Nigerian Natural and Liquefied Gas (NLNG), Dangote Group, Johnwood Hotel in Abuja, Central Bank of Nigeria (CBN), Access Bank, and ECOBANK.

Realnews Magazine has consistently sought to uphold its motto, “For God and Humanity,” by producing exclusive stories covering various sectors and contributing to building a free, fair, and just society.

The event also recognized individuals inducted into the Realnews Hall of Fame, which honors past lecturers and speakers at the magazine’s anniversary lectures and designates Realnews Ambassadors.

The anniversary lecture, which was also attended by online participants through Zoom and livestream viewers on Facebook and YouTube from different countries, served as a platform for experts to address the critical issue of illicit funds flow in Africa. As discussions continue, it remains evident that addressing this challenge is crucial for the region’s economic development and growth.

For more information, please visit the Realnews Magazine website at www.realnewsmagazine.net.