• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
Sign in
Welcome!Log into your account
Forgot your password?
Password recovery
Recover your password
Search
  • Home
  • About
  • Adverts
  • Contact
  • AMP
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • ICPC Arraigns SEC Official for Receiving N4.4m Bribe

      Audit Query : Reps Panel Probes FCDA Over Non-Rendition of Financial…

      Nigeria Needs to Improve Negotiations to Curb IFFs – ICPC

      Illicit Monies out of Africa Outweigh Development Grants into Continent –…

      JUST IN: EFCC Football Team Lifts FCT Cup

  • Fact-Check
  • Economy
    • NAHCON

      NAHCON Seeks Additional Hajj Seats

      Reuben Muoka Appointed NCC’s Director Public Affairs

      MTN’s Mobile Money Bank suffers N22B Fraud, Drags 18 Banks to…

      NEMA

      NEMA commences Routine food distribution in Borno state

      Civil-Military Relations: Nigerian Army Constructs, Commissions Medical Facility In Edo Community

  • National
    • NAHCON

      NAHCON Seeks Additional Hajj Seats

      Kanu of IPOB Arrested

      Again, Court refuses bail for IPOB Leader, Nnamdi Kanu for Jumping…

      NYSC DG to Corpers: Embrace Dignity of Labour

      Chief Justice of Nigeria, CJN, Ibrahim Tanko Muhammad

      CJN Justice Muhammad Tanko Resigns on Health Grounds

      How Lives of Kidney Patients in Populous Kano Depend on 12…

    • Government
      • Buhari Launches 5-Year ‘Federal Civil Service Strategy Plan’

        Yemi-Esan Launches 20 Buses for Civil Servants in FCT

        HoS, Yemi-Esan Unveils ‘Anonymous Reporting System’ for Workers’ Complaints

        How We’re Boosting Productivity in Civil Service – HoS, Yemi-Esan

        Thousands Attend Juma’at Service at National Mosque as ‘Civil Service Week’…

  • Security
    • Female Troops Trained on Fire Fighting

      Insecurity: Zamfara assembly passes banditry, terrorism, other offences bill

      National defence strategy: Defence, war colleges hold joint exercise

      Interior Minister, Ogbeni Rauf Aregbesola

      Ensure To Recapture Fleeing Inmates — Aregbesola Tasks NCoS

      Insecurity: The View From The Pentagon, By Abdulhamid Babatunde

  • Features
    • Curbing Human Trafficking Through Intelligence Gathering In Nigeria

      Insecurity: The View From The Pentagon, By Abdulhamid Babatunde

      2023 Elections and Security Forces Engagement

      ONDI: Refining Local Content for Powering Nigeria’s Innovation Revolution

      How We’re Boosting Productivity in Civil Service – HoS, Yemi-Esan

  • State
    • Gov Badaru Inaugurates Jigawa Investment Agency

      How Lives of Kidney Patients in Populous Kano Depend on 12…

      Stranded Nigerian Medical Student in Russia Gets Ex-Sokoto Governor, Sen. Wamakko’s…

      Qatar, Inuwa Foundations Bankroll Eye Surgery, Distribute Medicated Glasses to 486…

      VIRAL VIDEO: ‘Yahaya Bello not Owing any Worker, Nothing Wrong in…

  • Event
    • Female Journalists Unveil Book on Yahaya Bello at 47th Birthday Celebration

      Sen. Na’Allah, UNIJos VC Unveil Book on ‘Zuru People of Northwest…

      NSCDC

      NSCDC Deploys 9,747 Personnel For Ekiti Guber Poll

      How Sheikh Agaka’s Family Imparted Islamic Knowledge on my Family —…

      How CCC, NITDA, NDLEA, Bagged 2022 African PR Awards in Tanzania

Home Anti-Corruption Nigeria Needs to Improve Negotiations to Curb IFFs – ICPC
  • Anti-Corruption

Nigeria Needs to Improve Negotiations to Curb IFFs – ICPC

By
Azuka Ogugua
-
June 21, 2022
ICPC Chairman, Prof Bolaji Owasanoye, SAN, delivering his opening remarks

Nigeria Needs to Improve Negotiations to Curb IFFs – ICPC

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Professor Bolaji Owasanoye (SAN), has called for better negotiation skills in dealing with expiring international trade agreements as well as in establishing new ones.

He made this call in his opening remarks at a 2-day workshop on mitigating illicit financial flows themed “Capacity Building for Nigeria’s Negotiators for Improved Terms of Engagement with the Rest of the World” which kicked off at the Commission’s headquarters.

In his paper titled “From Gunboat Diplomacy to the Negotiation Table”, Professor Owasanoye opined that globalization has made interactions with diverse global communities inevitable, however the rules of engagement are more often than not, unfavorable to poor economies of the global south who lack the development and technological advancements of the global north.

“This has often led to poorly constructed trade agreements which have ultimately been disadvantageous to the growth of the country and also opened loopholes to encourage illicit financial flow”, he said

Prof. Owasanoye illustrated the archaic practice of European super powers using their military might to cohesively reach one-sided agreement with economic minions.

This “Gunboat diplomacy” as he referred to it, eventually forced nations without capacity to depend on imperialists for raw materials and overseas markets.

According to Owasanoye, “This inimical approach was eventually countered by the Hague Convention (No 2) Respecting the Limitation of the Employment of Force for the Recovery of Contract Debts of 1907 and then replaced by diplomatic protection whereby states exchanged notes on how investors should be treated by other governments.”

The ICPC boss enumerated several reasons why there was need to focus on capacity building to improve negotiation skills especially in the trade and investment sector.

In his words, “Nigeria requires trade and investment to grow the economy. To attain this desire, we must have the potential to harness capital and technology in a manner that is not inimical to development.”

He further pointed out that the pillars of international trade agreements were erected years ago and they tended to confer undue advantage to colonialists while Africa – itself largely under colonial rule – had little to no say and thus at a disadvantage. These pillars, in his opinion, do no not work for Nigeria.

The Chairman stated that Nigeria must align with one of the ideals expressed recently by President Thabo Mbeki which champions the need to ‘build capacity to combat illicit financial flows at national and continental levels.

Professor Owasanoye stated that participants for the workshop were drawn from middle level officers in public sector agencies that undertake negotiations due to the diverse range and complexity of issues under consideration in the workshop.

He acknowledged the invaluable support of Ford Foundation as regards the project and said that “the foundation continues to demonstrate unquestionable commitment to the development of Nigeria through support for the civil society and selected government institutions.”

In the same vein, the Chairman Inter-Agency Committee on Stopping Illicit Financial Flows (IFFs) from Nigeria, Dr. Adeyemi Dipeolu, lauded the initiative of the Commission in organizing the workshop stating that negotiations happen in various day to day activities from the most mundane to the extremely significant occurrences.

Dr. Adeyemi, who is also the Special Adviser to the President on Economic Matters in the Office of the Vice-President, suggested that it was essential for Nigeria to develop a crop of officials who are skilled in international negotiations in general as well as key thematic sectors.

He added that the cost of improper discussions has implications of varying degree. In his opinion, “The consequences of poor negotiations can range from paying twice as much as your neighbor for the same item to costing your country a billion dollars in a mining concession.”

While concluding his presentation, Dr. Dipeolu said public officials who are involved in negotiations must develop a personal repertoire of strategy and tactics. This, he suggested was achievable via early and continuous exposure to negotiation scenarios which would in turn build experience via constant participation.

The capacity building workshop featured presentations from various notable speakers including; Professor Jonathan Aremu – Consultant at Ecowas, “Understanding Trade Agreements”, Mrs Patience Okala – Nigeria Investment Promotion Council, “Understanding Investment Agreements”, Mrs Iniobong Abiola Awe – Director, Department of Climate Change, Ministry of Environment, “Understanding Environmental Agreements”,

Others include: Professor Abiola Sanni, SAN. Managing Partner Abiola Sanni & Co. “Understanding Tax Agreements” Dr. Esa Onoja – Chief of Staff to the Hon. Chairman ICPC Moderator
Dr Dayo Ayoade – Extractive Industries Expert and Senior Lecturer Faculty of Law, University of Lagos. “Understanding Natural Resource Agreements”

Signed:
Mrs. Azuka C. Ogugua
Spokesperson, ICPC

tribune news paper

Kidnapped School Children

Yauri FGC Students, Kebbi
376 days 8 hours 55 minutes 20 seconds,

Baptist School Students, Kaduna
358 days 10 hours 36 minutes 45 seconds

Tegina Islamiya Pupils, Niger (Freed)
Spent 88 days from May 30, 2021 - August 26, 2021


Report By: PRNigeria.com

 
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Gunboat diplomacy
  • ICPC
  • Nigeria
  • Professor Bolaji Owasanoye
Previous articlePolice Trains PPROs on Tackling Misinformation, Disinformation
Next articleHow Military Commander, Gen Uba Built Toilets to Avert Disease at Cross Kauwa
Azuka Ogugua

RELATED ARTICLESMORE FROM AUTHOR

Curbing Human Trafficking Through Intelligence Gathering In Nigeria

IPC Decries Detention, Harassment Of Wikki Times Publisher, Reporter

NAHCON

NAHCON Seeks Additional Hajj Seats

Reuben Muoka Appointed NCC’s Director Public Affairs

Female Troops Trained on Fire Fighting

Kanu of IPOB Arrested

Again, Court refuses bail for IPOB Leader, Nnamdi Kanu for Jumping Previous Bail

Insecurity: Zamfara assembly passes banditry, terrorism, other offences bill

National defence strategy: Defence, war colleges hold joint exercise

Interior Minister, Ogbeni Rauf Aregbesola

Ensure To Recapture Fleeing Inmates — Aregbesola Tasks NCoS

Insecurity: The View From The Pentagon, By Abdulhamid Babatunde

CDS Gen Lucky Irabor

Zamfara: General Irabor Faults Matawalle Over Guns for Residents

Police Nab Isaac Ezekiel for Removing Uzairu Salisu’s eyeballs in Bauchi

Recent Posts

  • NOUN appoints new Registrar, Bursar, Librarian
  • Curbing Human Trafficking Through Intelligence Gathering In Nigeria
  • IPC Decries Detention, Harassment Of Wikki Times Publisher, Reporter
  • NAHCON Seeks Additional Hajj Seats
  • Reuben Muoka Appointed NCC’s Director Public Affairs

Kidnapped School Children

Yauri FGC Students, Kebbi
376 days 8 hours 55 minutes 20 seconds,



Baptist School Students, Kaduna
358 days 10 hours 36 minutes 45 seconds

Report By: PRNigeria.com

Book on Sales: Boko Haram Media War: An Encounter with the Spymaster

boko haram

Click Here:To Order Now!

  • Home
  • About
  • Adverts
  • Contact
  • AMP
© 2020 PRNigeria. All Rights Reserved.