Nigerian officials propose using blockchain and AI to combat illegal financial flows in Africa

ChainCatcher news, according to Cointelegraph, Nigeria's Economic and Financial Crimes Commission Chairman Olanipekun Olukoyede emphasized that blockchain technology and artificial intelligence (AI) are tools to address illicit financial flows (IFF) in Africa.

Olanipekun Olukoyede highlighted at the Pan-African Conference on Illicit Financial Flows and Taxation that African countries lose $88.6 billion annually due to illicit financial flows, and recovering these funds could significantly improve infrastructure, healthcare, and education across the entire African continent.