Expert says forensic investigation can curb Nigeria’s $10b yearly illicit financial outflows

The application of Forensic science in Nigeria will halt the pervasive illicit financial outflows estimated at a whopping $10 billion yearly, particularly by the multinationals from Nigeria.

Also, the deployment of fraud preventive technology will help Nigeria account for recovered loot and prevent their re-looting.

These assertions were made by a forensic expert and Chairman Board of Trustees, the Society for Forensic Accounting and Fraud Prevention, Mr. Ilyiasu Gadhinbaki at the weekend in an exclusive interview with The Guardian.

Gashinbaki, whose society is seeking a chartered status at the Nigerian House of Representatives, said such savings from illicit and corrupt practices would assist Nigeria to address critical needs. He insisted that if properly employed, it will detect crime a thousand miles away before it is perpetrated.

He advised the country to quickly employ the forensic science application ahead of the full implementation of the African Continental Free Trade Area (AfCFTA) owing to the expected exposure to risk.