AfDB takes action against illicit financial flows, corruption in Africa
By Sodiq Adelakun
In a proactive move to combat illicit financial flows and corruption in Africa, the African Development Bank (AfDB) has initiated a training program for relevant stakeholders.
The Public Financial Management Executive Training Education of the Public Financial Management Academy for Africa took place in Abuja, where mid-to senior-level officials from various African countries participated.
These officials were selected from Ministries of Finance and Planning, central banks, and other public financial management institutions. Additionally, key anti-corruption agencies and statistical offices were also represented at the training.
The acting Director and Division Manager of Policy Management at the African Development Institute of the AfDB, Dr. Eric Ogunleye, emphasised the importance of this training.
He highlighted the need to enhance accountability, transparency, and curb corruption and illicit financial flows in Africa. By building the capacity of these stakeholders, the AfDB aims to empower them to effectively address these challenges.
The training program, themed “Enhancing Accountability, Transparency and Curbing Corruption and Illicit Financial Flows in Africa,” is a significant step towards promoting good governance and sustainable development in the region.
This initiative by the African Development Bank demonstrates its commitment to promoting transparency and accountability in Africa’s financial systems. By equipping stakeholders with the necessary skills and knowledge, the AfDB is taking a proactive approach to address these critical issues.
It is hoped that this training program will contribute to a more transparent and corruption-free Africa, ultimately leading to sustainable economic growth and development.
Themed, “Enhancing Accountability, Transparency and Curbing Corruption and Illicit Financial Flows in Africa,” participants at the training were also drawn from key anti-corruption agencies and statistical offices.
“This training, which will hold from Dec. 11 – 15, is special because it is the first hybrid training for this cohort. It is also special because our deserving participants will graduate and receive certificates at the end of this module in a few days.
“I am excited because the journey we started together in March 2022 has gradually come to a happy and beneficial ending,” Ogunleye said.
According to him, several pieces of positive feedback have been received from participants on how the training has greatly benefited their daily work, career, and professional development.
He said the Academy also received commendations from its stakeholders on the impact these trainings were making in their countries.
“Following this, several requests for country-specific and sub-national versions of these trainings from regional member countries have been requested.
“This feedback has further encouraged and strengthened our commitment to continue delivering the 18 months of structured executive training,” Ogunleye said.
He said the training aimed to deepen participants’ understanding of accountability, transparency, anti-corruption, anti-money laundering/counter financing of terrorism, and anti-illicit financial flows and obligations in mitigating the risks.
Ogunleye said that participants were expected to have an improved capacity to design and implement robust institutional, policy, legal, and regulatory frameworks at the end of the training.
The director said the improved capacity should also enhance accountability and transparency and curb corruption and Illicit financial flows in Africa, among other things.
On evaluation, Ogunleye said: “this is a competency training programme that will lead to certification at the end of the 18-months training period, which for this cohort would be at the end of this training.
“Therefore, some criteria have been developed for the course and participants’ evaluation, accreditation, and certification. On the last day of the training, we will send you some survey evaluation questions, requesting you to provide feedback on this training. Please endeavour to respond to those survey questions, as that would help us improve the training programmes,” he said.
