The Honorable Minister of Finance and Coordinating Minister of Economy, Wale Edun has urged swift measures to tackle illicit financial flows, warning that continued revenue leakages are weakening Nigeria’s public finances and increasing dependence on borrowing.
Speaking at the opening of the 5th Special Technical Committee Sub-Committee on Tax and Illicit Financial Flows, the Minister said the situation requires urgent and coordinated action to safeguard the country’s economic stability.
He noted that the administration of Bola Tinubu is implementing reforms aimed at improving tax collection, widening the revenue base, and strengthening the overall economy.
According to him, “boosting domestic revenue is key to financing infrastructure, delivering public services, and achieving long-term economic growth, while also promoting transparency and attracting investment”.
Edun emphasised that retaining capital within the country and strengthening financial systems remain essential steps toward building a more sustainable and resilient economy.
