Thursday, July 19, 2018 9:00AM / IPPA Nigeria
The Initiative for Policy Analysis (IPPA) will on July 25, 2018 hold a Policy Roundtable, with the theme: “Business Environment: Maximizing Economic Opportunities through Effective Anti-Illicit Trade Enforcement”.
Illicit trade is a growing problem across the world. It has an extensive destabilizing impact on national and global security architecture because it facilitates transnational organized crime and illegal flow of money.
It is a proven fact that illicit trade especially products counterfeiting, smuggling of narcotics, weapons and tobacco is a source of revenue for organized criminal groups in Africa and beyond. There are indications that in some instances it is also linked to financing terrorism.
According to the United Nations’ estimates, more than $1 billion is illicitly traded in small arms alone in Africa, fueling the increasing conflict and criminal activities in the region. Illicit trade exposes the general public to the dangers of sub-standard and low quality products, as usage of such illicit products have been known to cause health hazards.
According to IPPA Nigeria, illicit trade is largely policy induced. The increase in excise could potentially embolden criminals and smugglers to conceal imports as well as abuse certain customs and excise procedures if unchecked. This would completely negate the benefit to the government in terms of revenue loss.
The Policy Roundtable is scheduled to hold at Protea Hotel, Ikeja GRA, Lagos. This event is free for public. However, because of limited seats, participants are required to RSVP their participation by calling Bola via 08023025079 or email firstname.lastname@example.org