ICPC Makes Fresh Discovery On Six-weeks Bachelor’s Degree Scam In Nigeria

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has revealed the existence of a bank account held by a foreign individual, which is purportedly utilised for receiving payments from Nigerians who are attempting to acquire a dubious six-week bachelor’s degree overseas.

Naijaonpoint reports that this finding was disclosed by ICPC Chairman, Dr. Musa Adamu Aliyu, at a stakeholders’ advocacy event focused on asset tracing, recovery, and management, which took place on Tuesday in Abuja.

The event was organised by the Centre for Fiscal Transparency and Public Integrity (CeFTPI), with assistance 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 revealed.

“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.”

He emphasised the need for enhanced collaboration among anti-corruption agencies to prevent offenders of financial crimes from benefiting from their illicit gains.

Additionally, during the event, Chairman of the Code of Conduct Bureau (CCB), Dr. Abdullahi Bello, revealed that an ongoing audit of asset declarations from over 10,000 public servants has uncovered that approximately 20 per cent of these declarations are inaccurate.

On a wider continental level, the Director-General of GIABA, Edwin Harris, expressed concern over the increasing trend of illicit financial flows from Africa.

He referenced a report by former South African President Thabo Mbeki, commissioned by the UN Economic Commission for Africa, which indicated that the estimated annual loss has escalated from $50 billion to a current range of $88 billion to $94 billion.