OPENING REMARKS DELIVERED BY THE HONOURABLE MINISTER OF STATE, FEDERAL MINISTRY OF FINANCE, DR. DORIS UZOKA-ANITE, CFA AT THE OPENING CEREMONY OF THE WORKSHOP ON ESTIMATION OF ILLICIT FINANCIAL FLOWS (IFF) ORGANISED BY THE UNITED NATIONS ECONOMIC COMMISSION FOR AFRICA HELD ON 19TH JANUARY 2026 AT REIZ CONTINENTAL HOTEL, ABUJA.
Protocol
Distinguished participants, representatives from the United Nations Economic Commission for Africa; ladies and gentlemen.
2. It is my distinct honor to welcome you to this pivotal workshop on the Estimation of Illicit Financial Flows (IFF) using the Partner Country Method Plus (PMC+), Price Filter Method Plus (PFM+) and other Risk-Based Audits methods. I want to appreciate the United Nations Economic Commission for Africa (UNECA) for organizing and sponsoring this workshop. This gathering unites our nation's frontline defenders of fiscal integrity – officers from the Federal Ministry of Finance (FMF), Nigeria Customs Service (NCS), Nigeria Revenue Service (NRS), National Bureau of Statistics (NBS), Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), Independence Corrupt Practices Commission (ICPC), Central Bank of Nigeria (CBN), and Nigeria Extractive Industries Transparency Initiative (NEITI) to wield customs data as a powerful weapon against the shadowy drain of illicit finance.
3. Illicit financial flows represent one of the most insidious threats to Nigeria's economic sovereignty. Each year, billions of naira vanish through trade mis-invoicing, transfer pricing abuses, and other manipulations, starving Government of resources needed for infrastructure, healthcare, and poverty alleviation. The African Union's High-Level Panel on IFF estimates that Africa loses over $50 billion annually to these outflows – a figure that undermines our development agenda. In Nigeria, where customs data serves as the lifeblood of trade monitoring, we stand at the forefront of this battle. Yet, traditional methods have often fallen short, relying on incomplete datasets and reactive measures.
4. This workshop equips us with cutting-edge tools to change that narrative. The Partner Country Method Plus (PCM+) refines mirror trade statistics by cross-referencing Nigeria's import and export declarations with our trading partners' records, uncovering discrepancies that signal under- or over-invoicing. Enhanced with "plus" elements like advanced data reconciliation algorithms, it transforms raw customs entries into precise IFF estimates. Complementing this is the Price Filter Method Plus (PFM+), which benchmarks transaction unit prices against global norms, flagging anomalies in commodity trades – from petroleum products to agricultural exports. By integrating these with machine learning-driven filters, we gain unprecedented accuracy in isolating artificial pricing distortions.
5. Estimation alone is not enough; action must follow. Our sessions on risk-based audits will empower you to prioritize high-risk shipments and traders, deploying targeted verifications that maximize impact with limited resources. Imagine customs officers at Tin Can Island or Apapa ports using real-time analytics to intercept suspicious manifests before they erode our revenues – this is the future we want to build here.
6. Ladies and gentlemen, Nigeria's fiscal resilience hinges on your expertise. As officers in the Federal Ministry of Finance and Nigeria Customs Service, you hold the data keys to reclaiming our wealth. This workshop is not merely training; it is a call to innovation, urging us to integrate these methods into daily operations, foster inter-agency collaboration, and align with global standards like those from the OECD and FATF. By strengthening our customs data ecosystem, we safeguard revenues, deter criminals, and propel economic development.
7. I challenge each of you: leave this workshop not just informed, but transformed – ready to estimate IFF with precision, audit with purpose, and report findings that shape policy. Together, with UNECA's partnership, let us stem the tide of illicit flows and secure a prosperous Nigeria.
8. Thank you, and may this workshop ignite a new era of fiscal vigilance. God bless you, and God bless the Federal Republic of Nigeria.