The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered a bank account operated by a foreign national allegedly being used to collect payments from Nigerians seeking to obtain questionable six-week bachelor's degrees from foreign institutions.
ICPC Chairman, Dr. Musa Adamu Aliyu, made this revelation on Tuesday during a stakeholders' advocacy event on asset tracing, recovery and management held in Abuja. The event was organized by the Centre for Fiscal Transparency and Public Integrity (CeFTPI), with support from the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
"Within some weeks, we were able to discover that a foreigner opened an account in Nigeria while Nigerian students were paying money into the account to obtain that six-week degree," Aliyu stated. "We were able to track the account and obtain a civil forfeiture order. We have been trying to ensure that the culprits are brought to book, especially those that are beyond our shores."
The ICPC chairman emphasized the need for greater collaboration among anti-corruption agencies to ensure perpetrators of financial crimes do not enjoy the proceeds of their illegal activities.
In a related development at the same event, Chairman of the Code of Conduct Bureau (CCB), Dr. Abdullahi Bello, disclosed that an ongoing audit of over 10,000 public servants' asset declarations has revealed approximately 20 percent of them contain false information.
The Director-General of GIABA, Edwin Harris, also highlighted the alarming increase in illicit financial flows from Africa. Citing a report by former South African President Thabo Mbeki under the auspices of the UN Economic Commission for Africa, Harris noted that while previous estimates put annual losses at $50 billion, current figures indicate between $88 billion and $94 billion leaving the continent illicitly each year.
CeFTPI Executive Director, Umar Yakubu, explained that the event brought together key stakeholders from anti-graft institutions, civil society organizations, the judiciary, and international partners to develop innovative mechanisms for transparency, citizen engagement, and accountability in asset recovery efforts.
The ICPC's discovery comes amid growing concerns about academic fraud and credential mills targeting Nigerians seeking foreign qualifications. Authorities have warned citizens to verify the accreditation status of foreign institutions before making payments for educational programs.
