Dr. Bishop Akologo, the Executive Director of Technology Integration at Point Ventures, has raised concerns about the significant financial losses Ghana incurs each year due to illicit financial flows (IFFs). These losses, he noted, pose a serious threat to the nation’s developmental progress.
Dr. Akologo made these remarks during a training workshop organized by the Media Foundation for West Africa (MFWA) in Bolgatanga.
Adding to the discussion, Benaiah Nii Addo, the Executive Director of Green Tax Youth Africa, elaborated on the scope of IFFs, identifying them as activities that include money laundering, bribery, tax evasion, and trade mispricing. These illegal practices, he stressed, drain critical resources that could otherwise support Ghana’s development initiatives.
Ghana’s loss of critical development resources due to illicit financial flows (IFFs) has been spotlighted during a two-day capacity-building workshop for journalists in the Upper East Region. Organized by the Media Foundation for West Africa (MFWA), the event aimed to enhance journalists’ understanding and reporting on IFFs.
The Programme Officer for MFWA and Chairman of the Upper East Regional branch of the Ghana Journalists Association (GJA), Mr. William Nlanjerbor Jalulah, explained that the workshop was designed to equip journalists with the skills needed to investigate and report on IFF-related issues effectively.
“As partners with the media, we recognize the need to strengthen their capacity to address these complex issues,” Mr. Jalulah stated. “This training is intended to empower journalists to educate the public, promote awareness, and contribute to the fight against illicit financial flows.”
IFFs, which include practices like money laundering, tax evasion, bribery, and trade mispricing, continue to drain Ghana of vital resources needed for national development.
0 
