The Nigerian Shippers’ Council (NSC) has alerted to the $50 billion Africa loses annually due to illicit financial outflows. This issue obstructs poverty alleviation, education improvement, and essential service provision.
While speaking at a debate competition in Apapa, Lagos, NSC Executive Secretary Pius Akutah, represented by Human Resources Director Ada Okam, emphasized the negative impact of these financial outflows on the continent’s growth, as well as the African Agenda and global Sustainable Development Goals.
Akutah noted, “Corruption affects all of humanity, hindering national advancement, stability, and prosperity.” He emphasized that Africa’s loss through illicit financial outflows exceeds $50 billion yearly. The African Union designates July 11 as a day to raise awareness about corruption, aligning with the United Nations’ campaign for transparency.
Addressing the theme, “Effective Whistleblowers Protection Mechanism: A Critical Tool in the Fight Against Corruption,” Akutah stressed the importance of protecting whistleblowers. Effective coordination between investigative, prosecutorial, and judicial systems is crucial for whistleblower protection. This mechanism is essential for combating corruption.
He explained that institutions, laws, and policies at various levels aim to protect whistleblowers. The Nigerian Shippers’ Council has a policy outlined in the NSC Code of Conduct to safeguard whistleblowers. Efforts in Nigeria have led to the recovery of billions of Naira, funding critical infrastructure projects.
However, Akutah acknowledged the lack of effective measures to protect whistleblowers, who often face retaliation. He advocated for comprehensive protection to encourage voluntary reporting of financial regulation violations, mismanagement, fraud, and theft. This protection is vital for economic recovery, societal well-being, and building a secure future without fear of reprisals.
The debate competition, organized by National Youth Service Corps (NYSC) members and Industrial Trainees in collaboration with the Nigerian Shippers’ Council, focused on the theme of effective whistleblower protection. Participants discussed the critical role of whistleblowing in fighting corruption and ensuring transparency.
Akutah stressed the need for a robust whistleblowing framework, noting that effective protection encourages individuals to report wrongdoings without fear. This framework, he argued, is essential for combating corruption at all levels and promoting good governance.
He pointed out that corruption’s negative effects permeate every facet of society, hindering national progress. Effective whistleblower protection, he said, is a critical tool in the fight against this pervasive issue.
The event underscored the importance of transparency and accountability in governance. Akutah called for collaborative efforts to strengthen whistleblower protection mechanisms and ensure that individuals who expose corruption are not victimized.
The Nigerian Shippers’ Council’s stance on whistleblower protection aligns with global efforts to promote transparency and reduce corruption. By safeguarding those who report financial malpractices, mismanagement, and fraud, the council aims to foster a culture of accountability and integrity.
Akutah concluded by urging the public and private sectors to prioritize whistleblower protection. He emphasized that such measures are crucial for the recovery of the economy and the well-being of society.
As Africa continues to face challenges related to illicit financial outflows, the importance of effective whistleblower protection cannot be overstated. Strengthening these mechanisms will play a significant role in addressing corruption and promoting sustainable development across the continent.
Source: The Guardian
