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AUDA-NEPAD Boss Calls For Global Strategies Against Illicit Financial Flows

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AUDA-NEPAD Boss Calls For Global Strategies Against Illicit Financial Flows
Joel Ajayi
The National Coordinator, Chief executive Officer, African Union Development Agency-New Partnership for Africa’s Development/African Peer Review Mechanism (AUDA-NEPAD/APRM), Nigeria, Princess Gloria Akobundu, has called on world leaders to consider Illicit Financial Flows (IFFs) as common problem and come up with strategies that can stem the vices.
This contained in a statement signed by Abolade Ogundimu, Media Assistant to NC/C.E.O, AUDA-NEPAD/APRM in Abuja, Nigeria.
Akobundu made the call while addressing high-level delegates at a side-line event of the 74th United Nations General Assembly on Thursday in New York.
The side-line event’ was titled : Promotion of International Cooperation to Combat Illicit Financial Flows and Strengthen Good Practices on Assets Recovery and return to sustainable Development’
It was co-hosted by Governments of  Nigeria, Norway,  Ethiopia,  Zambia and South Africa while organised by AUDA-NEPAD/APRM  in Collaboration with Economic and Financial Crime Commission (EFCC) Nigeria.
According to the National Coordinator, global contribution of strategies will eradicate IFF, enhance attainment of Sustainable Development Goals (SDGs)  and ensure return of stolen assets.
“Illicit financial flows distorts development in Africa, the illicit movement of funds in and out of Africa, affects the delivery of public goods, financing of poverty-reducing programmes, and infrastructural development.
“The illegal exploitation of Africa’s natural resources leads to deprivations that impoverish local communities, activities of anti-development must stop.
“A natural progression from the discussions around Illicit Financial Flows is needed
In order to have globalstrategies in combating the canker worm and
Strengthen good practices on asset recovery.
“It will also help repatriation of the Illicit proceeds to the country of origin for sustainable economic development,” she said.
While reiterating Nigeria’s contribution to stem IFFs at the global event, Akobundu urged host nations of illicit funds to own up and do the needful.
“Between 2003 and 2012, Nigeria lost about $158 billion to illicit financial flows,
“The Nigerian Government has made significant progress in tracking down illicit funds movement from Nigeria.
“However, in some cases, these assets are stocked in foreign accounts and become a safe havens.
“Countries supporting the Illicit assets must therefore, step out from behind the
laws and acknowledge that they provide safeguard for proceeds of grand corruption.”
Akobundu commended President Muhammadu Buhari for his leadership role in the fight against corruption, not only in the Africa’s most populous nation, but in the continent through his support to AUDA-NEPAD and other continental agencies of development.
“Let me particularly thank Africa’s Anti- Corruption Champion, President Muhammadu Buhari for his leadership and commitment to end corruption in Nigeria and Africa at Large.
“His Excellency has taken particular interest in the work of AUDA as it aligns with his triple focus, growing the economy; fighting corruption and; restoring security,” she said.
The C.E.O appreciated President Buhari and other presidents that attended and supported the event and called for sufficient support to AUDA-NEPAD by African nations.
AUDA-NEPAD’s core priority agenda for the Next Level will address the triple issues of Economic Development, Corruption and Insecurity in our Continent.
“The Modernization of the rural Communities through the following areas, among others: Community based development /intervention programmes Goals (1&11); Aggressive/massive capacity building for Youths and Women  (Goals 4&5).
Also, Promoting entrepreneurship through Public/Private Partnership for job and wealth creation (Goal 8).”
Other Presidents at the event include: President Edgar Lungu of Zambia and President Sahlework Zewede of Ethiopia, while President of 74th UNGA, Prof. Tijani Muhammed-Bande and Prof. Ibrahim Gambari, Chairperson, Panel of Eminent Persons,,APRM, were parts of the high-level delegates.
They were part of the speakers and panelists at the IFFs event, a precursor to the main deliberation that will be later held at the 74th UNGA.
They sued for effective capacity building, massive advocacy, effective legal framework and strengthening the relevant institution for curbing IFFs globally.
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NELFUND: The Renewed Hope Engine Propelling Nigeria’s Youth into Tomorrow

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By Dayo Israel, National Youth Leader, APC

As the National Youth Leader of the All Progressives Congress, I have spent most of my tenure fighting for a Nigeria where every young person, regardless of their ward or local government, family income, or circumstance, can chase dreams without the chains of financial despair.

Today, that fight feels like victory, thanks to the Nigerian Education Loan Fund (NELFUND). Launched as a cornerstone of President Bola Ahmed Tinubu’s Renewed Hope Agenda, this initiative isn’t just a policy tweak; it’s a revolution. And under the steady, visionary hand of Managing Director Akintunde Sawyerr, NELFUND has transformed from a bold promise into a roaring engine of opportunity, disbursing over ₦116 billion to more than 396,000 students and shattering barriers for over a million applicants.

Let’s be clear: NELFUND was always destined to be a game-changer. Signed into law by President Tinubu on April 3, 2024, it repealed the outdated 2023 Student Loan Act, replacing it with a modern, inclusive framework that covers tuition, upkeep allowances, and even vocational training—ensuring no Nigerian youth is left on the sidelines of progress.

But what elevates it from groundbreaking to generational? Leadership. Enter Akintunde Sawyerr, the diplomat-turned-executioner whose career reads like a blueprint for results-driven governance. From co-founding the Agricultural Fresh Produce Growers and Exporters Association of Nigeria (AFGEAN) in 2012—backed by icons like former President Olusegun Obasanjo and Dr. Akinwumi Adesina—to steering global logistics at DHL across 21 countries, Sawyerr brings a rare alchemy: strategic foresight fused with unyielding accountability.

As NELFUND’s pioneer MD, he’s turned a fledgling fund into a finely tuned machine, processing over 1 million applications since May 2024 and disbursing ₦116 billion—₦61.33 billion in institutional fees and ₦46.35 billion in upkeep—to students in 231 tertiary institutions nationwide. That’s not bureaucracy; that’s brilliance.

Sawyerr’s touch is everywhere in NELFUND’s ascent. Since the portal’s launch, he’s overseen a digital ecosystem that’s as transparent as it is efficient—seamless verification, BVN-linked tracking, and real-time dashboards that have quashed misinformation and built trust. In just 18 months, the fund has empowered 396,252 students with interest-free loans, many first-generation learners who might otherwise have dropped out.

Sensitization drives in places like Ekiti and Ogun have spiked applications — 12,000 in a single day in one instance, while expansions to vocational centers in Enugu pilot the next wave of skills-based funding. And amid challenges like data mismatches and fee hikes, Sawyerr’s team has iterated relentlessly: aligning disbursements with academic calendars, resuming backlogged upkeep payments for over 3,600 students, and even probing institutional compliance to safeguard every kobo. This isn’t management; it’s mastery—a man who doesn’t just lead but launches futures.

Yet, none of this happens in a vacuum. President Tinubu’s alliance with trailblazers like Sawyerr is the secret sauce securing Nigeria’s tomorrow. The President’s Renewed Hope Agenda isn’t rhetoric; it’s resources—₦100 billion seed capital channeled into a system that prioritizes equity over elitism. Together, they’ve forged a partnership where vision meets velocity: Tinubu’s bold repeal of barriers meets Sawyerr’s boots-on-the-ground execution, turning abstract policy into tangible triumphs. It’s a synergy that’s non-discriminatory by design—Christians, Muslims, every tribe and tongue united in access—fostering national cohesion through classrooms, not courtrooms.

As Sawyerr himself notes, this is “visionary leadership” in action, where the President’s political will ignites reforms that ripple across generations.

Why does this matter to us, Nigeria’s youth? Because NELFUND isn’t handing out handouts—it’s handing out horizons. In a country where 53% of us grapple with unemployment, these loans aren’t just funds; they’re fuel for innovation, entrepreneurship, and endurance.

Picture it: A first-generation polytechnic student in Maiduguri, once sidelined by fees, now graduates debt-free (repayments start two years post-NYSC, employer-deducted for ease) and launches a tech startup. Or a vocational trainee in Enugu, equipped with skills funding, revolutionizing local agriculture. This is quality education that endures—not fleeting certificates, but lifelong launchpads. Sawyerr’s focus on human-centered design ensures loans cover not just books, but bread—upkeep stipends of ₦20,000 monthly keeping hunger at bay so minds can soar. Under his watch, NELFUND has debunked doubts, refuted fraud claims, and delivered results that scream sustainability: Over ₦99.5 billion to 510,000 students by September, with 228 institutions on board.

As youth leaders, we see NELFUND for what it is: A covenant with our future. President Tinubu and MD Sawyerr aren’t just allies; they’re architects of an educated, empowered Nigeria—one where poverty’s grip loosens with every approved application, and innovation blooms from every funded desk. This isn’t charity; it’s an investment in the 70 million of us who will lead tomorrow.

We’ve crossed one million applications not because of luck, but leadership—a duo that’s turning “access denied” into “future unlocked.”

To President Tinubu: Thank you for daring to dream big and backing it with action.

To Akintunde Sawyerr: You’re the executor we needed, proving that one steady hand can steady a nation.

And to every Nigerian youth: Apply. Graduate. Conquer.

Because with NELFUND, your generation isn’t just surviving—it’s thriving, enduring, and eternal.

The Renewed Hope isn’t a slogan; it’s our story, now written in scholarships and success. Let’s keep turning the page.

Dayo Israel is the National Youth Leader of the All Progressives Congress (APC).

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