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Lawmaker to move motion on illicit capital flow today

Discussion in 'Jukwaa la Siasa' started by armanisankara, Aug 14, 2012.

  1. a

    armanisankara JF-Expert Member

    Aug 14, 2012
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    Kisesa lawmaker Luhaga Mpina is today expected to present to the Speaker of the National Assembly four different reports showing that Tanzania is losing billions of shillings every year due to illicit capital flow.
    Addressing a press conference here yesterday, the MP reiterated that he had hard evidence indicating that some senior public officials were stealing billions of shillings and depositing the same abroad.
    According to Mpina, the Global Financial Integrity Report for 2008 titled 'Illicit financial flow from Africa: Hidden resources for development', indicated that Tanzania was the 13th African country out of 20 leading in illicit financial flow of public funds.
    The MP said that in the report, it was estimated that Tanzania had been lossing 478bn/- every year, money which was being stolen by unscrupulous public officials who deposit the money in foreign banks.
    For instance, the lawmaker said, from 1970-2008 Tanzania lost USD7,356.4m, which was equivalent to 11.6trn/-.
    Reports which are to be presented to the Speaker today include the Global Financial Integrity Report for 2008: Illicit Financial Flow from Africa: Hidden Resource for Development, which shows that from 1970-2008 Tanzania lost USD7,356.4m (11.6trn/-); a report by Ndikumana and Boyce of 2008, which indicates that from 1970-2004, Tanzania lost USD5,185m, equivalent to 8.2trn/-).
    Others include a report by Kar and Cartwright-Smith, D (2008): Illicit Financial Flow from Developing Countries, in which from 1970-2004 Tanzania lost USD6,561m, which is equivalent to 10.4trn/-, and The One Billion-Dollar Question: How Can Tanzania Stop Losing So Much Tax Revenue, released in 2012 which shows that every year Tanzania loses USD300m, equivalent to 478trn/-.
    He said the idea behind submitting the reports was to press the government to issue a statement and take action against those who were behind the looting. “The government is fully aware of those reports as in May 2011, when the cabinet was discussing the five-year government development plan, acknowledged the Global Financial Integrity (GFI) Report of 2008: Illicit Financial Flow from Africa; Hidden Resource for Development.”
    Mpina called upon the government to take serious action to combat corruption, which makes the country lose such huge amounts of money.
    The lawmaker urged the government to use the World Bank’s Stolen Asset Recovery (STAR) strategy of recovering stolen assets.
    “This strategy will enable a country or an international agent to follow up, to nationalise, liquidate and later bring back assets into the country that had lost them,” he stressed, citing countries like Nigeria, Peru and the Philippines which had used the strategy through the developed country financial centres to recover their lost assets.
    Last month the MP raised his concern about illicit financial outflows, but the government and the Bank of Tanzania denied the charges.
    Debating the budget estimates for the year 2012/13 for the President’s Office, Public Service Management and the Planning Commission, Mpina told the House that the theft of public funds was on the increase because the responsible authorities were not issuing reports to enable the nation gauge the level of the vice.
    “Findings of the report by Ndikumana and Boyce in 2008 in ‘The One-Billion Dollar Question titled 'How can Tanzania stop losing much revenue?' shows that Tanzania is losing 478bn/- every year,” said Mpina.
    He said regardless of the efforts by the Office of the Controller and Auditor General, various internal and foreign institutions had been giving reports on how public funds were being stolen and deposited abroad.
  2. POMPO

    POMPO JF-Expert Member

    Aug 14, 2012
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    tatizo lipo kwa huyo anayekabiziwa hizo Nondoz? maan Chikawe na Warema, kila kitu wanapinga watasema ni gazeti tu!