Articles & Publications

AGF gets CIFCFEN Honorary Fellowship

The Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria (CIFCFEN) has bestowed its Honorary Fellowship on the Accountant-General of the Federation (AGF), Ahmed Idris. The President/Chairman of Council of CIFCFEN, Iliyasu Gashinbaki said the Fellowship is given to individuals who have distinguished themselves in their career and discharged their duties either as public servants or players in the private sector. He extolled the virtues of the AGF for his exemplary leadership and bringing a breath of fresh air to the office.

Institute establishes college of forensics for fraud prevention

As the world financial systems continue to face global threat from fraudsters around the world, the Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria (CIFCFEN) has concluded arrangements for the flag-off the College of Forensics and fraud examination Institute in Nigeria to protect the country from the global threat. An estimated 10 per cent of the global financial capital of $83 trillion, consisting of $8 trillion of which Nigeria is part of is believed to be under threat from fraudsters, according to the CIFCFEN President/Chairman of Council, Dr. Iliyasu Gashinbaki, provoking the necessity for the establishment of the Institute

Forensics Institute inducts Buhari’s daughter, others

The First Vice President, Association of National Accountants of Nigeria (ANAN), Dr. James Neminebor; a daughter of President Muhammadu Buhari, Fatima Muhammadu Buhari;  Maj-Gen. Sansadeen Awosanya (Retd.), Dr. Ismail Waheed; Accountant General of Katsina State, AlhajiAnasAbdukadir; Air Commodore Dangaji Zakari Lawan, Col. Adamu Ibrahim Isah, Cletus Okechukwu Odoh, Henry Osita, Babajide Agboluga, Sunday Ojelabi, Commodore Samuel Ngatuwa, Lt. Odeh Adokwu, and Alhaji Sa’ad Wuro Cheke among others, were among the first set of 25 inductees into the elite direct membership of Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria (CIFCFEN).

Passage Of Forensics Bill Will Accelerate Fight Against Corruption

Dr. Iliyasu Gashinbaki is the President/Chairman of Chartered Institute of Forensic and Certified Fraud Examiners, an offshoot of the Association of National Accountants of Nigeria (ANAN). He told HELEN OJI why the country needs to build certified fraud examiners’ capacity and explains how the fraud examiners’ bill, which ANAN is sponsoring and garnering support for at the National Assembly, will aid anti corruption fight.

We can help recover, repatriate looted funds

Certified fraud examiners have for years supported countries to reduce fraud and illicit financial flows. For Nigeria, the Bill for the establishment of the Chartered Institute of Forensic and Certified Fraud Examiners is awaiting passage at the National Assembly. The Bill, when passed into law, will deal with banking, insurance, capital market, judiciary and even legislative fraud. In this interview with COLLINS NWEZE, the President, Chartered Institute of Forensic and Certified Fraud Examiners of Nigeria, Dr. Iliyasu Gashinbaki, speaks on what is needed to tackle cases of fraud, especially in banks and other financial institutions, and what that means for businesses and economy.

We’ll Invest Significantly In Training Of Fraud Examiners, Whistleblowers – Gashinbaki

Dr. Iliyasu Gashinbaki is the President/Chairman of the Chartered Institute of Forensic and Certified Fraud Examiners. In this interview, with BAMIDELE OGUNWUSI, he speaks on issues surrounding the recent public hearing on the bill for the establishment of the institute which took place last month, training of whistleblowers and other sundry issues. Excerpts:

How fraud examiners bill will aid anti-corruption in Nigeria – Dr Gashinbaki

The impact passing the CIFCFEN bill will be qualitative investigation, sound prosecution, and the conviction rate will go up. That is a direct impact that will be seen in our law enforcement agencies as a clear outcome you can’t contest. From the National Assembly point of view, our lawmakers need to be trained and retrained to understand the issues of oversights, and of course, that is very critical as this will enhance the capacity of the legislators. Then the judiciary: some of the challenges our law enforcement agencies are having in court is that our judges when it comes to forensic-related issues and fraud, they have limitations. So this body will also help in building their capacity. If you look at it, the judiciary, legislature and executive are all directly going to be beneficiaries of this. It cuts across all the tiers and arms of government.

ANAN’s Forensic Bill Will Tackle New Trends In Financial Criminality – Gashinbaki

This Bill has two major branches. One is the forensic component which is multidisciplinary. You have different components of forensics under that. The other layer is fraud examination which is also multidisciplinary/multisectoral. Here we are dealing with insurance fraud, capital market fraud, banking fraud and the entire ramifications of different manifestations of fraud. These two are now fused together. So we are not just talking forensics but also fraud examination. That’s one. Number two, we are establishing the Nigerian Forensic Academy which is going to be a Regional Academy that the entire Africa will benefit from. The other component is our support for Institutional strengthening and capacity building for our law enforcement agencies.

Stakeholders Back Forensics, Certified Fraud Institute Bill

Stakeholders have expressed support for the proposed Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria, while lauding the important role the Institute would eventually play if the bill for an act to establish it sails through. Speaking at the Public Hearing organised for the bill on Thursday at the National Assembly, representatives of various public and private- sector organisations, including the Economic and Financial Crimes Commission (EFCC), the Association of National Accountants of Nigeria (ANAN) ,the Nigerian Financial Intelligence Unit ( NFIU) as well as the Nigeria Deposit and Insurance Corporation (NDIC), expressed support for the bill seeking to establish the institute.

ICAN Kicks As Forensic/Fraud Examiners’ Institute Gets Stakeholders’ Backing In Reps

A statement issued by the sponsor of the Bill said: “Representatives of various public and private sector organisations, including the Economic and Financial Crimes Commission (EFCC), the Association of National Accountants of Nigeria (ANAN), the Nigerian Financial Intelligence Unit ( NFIU), as well as the Nigeria Deposit Insurance Corporation (NDIC), expressed support for the Bill seeking to establish the Institute to deal with various crimes, offences and all manner of professional and social misgivings requiring in-depth investigations to turn in trusted results.

Anti-corruption: Firing from all cylinders

The Bill for the Establishment of Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria scaled second reading at the House of Representatives on Thursday, March 29, 2021. The significance of this in the fight against corruption, fraud and criminality in Nigeria is far reaching. Promoted by Association of National Accountants of Nigeria (ANAN), it is a multi-disciplinary Bill crafted to fire from all cylinders the hydra-headed monster that corruption has become in the country. Promoters of the Bill have noted with concern the rising state of failure of cases in court and determined to reverse the trend. They believe 100% conviction of fraudsters is possible in courts if the cases are diligently prosecuted backed by hard core evidence using scientific methods of forensics and fraud examination.

ANTI-GRAFT WAR: THE WAY FORWARD

The Bill for the Establishment of Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria scaled second reading at the House of Representatives on Thursday, March 29, 2021. The significance of this in the fight against corruption, fraud and criminality in Nigeria is far reaching. Promoted by Association of National Accountants of Nigeria (ANAN), it is a multi-disciplinary bill crafted to fire from all cylinders the hydra-headed monster that corruption has become in the country. Promoters of the bill have noted with concern the rising state of failure of cases in court and determined to reverse the trend. They believe 100% conviction of fraudsters is possible in courts if the cases are diligently prosecuted backed by hard core evidence using scientific methods of forensics and fraud examination.

Forensics bill will combat corruption

Gashinbaki said the passage of the bill into law will be the best gift the Ninth National Assembly will give to Nigerians as a way of rooting out fraud and corruption in the country. “We don’t have a chartered professional body in Nigeria responsible for fraud examination and forensics, and that is why this institute is not just coming at the right time, but it is the right thing for Nigerians who have institute of this nature that will train independent professionals, not government funded, but an independent professional body that will be focused on capacity building of forensic professionals and fraud examiners to provide water tight evidence to secure convictions in courts,” said.

Passage of Forensics Bill will accelerate fight against corruption –Dr. Gashinbaki

President and Chairman of Council of the Chartered Institute of Forensics and Fraud Examiners of Nigeria, Dr. Iliyasu Gashinbaki, who stated this, said the situation will be reversed once the bill for the establishment of the Chartered Institute of Forensics and Certified Fraud Examiners is passed into Law. The bill, which is promoted by the Association of National Accountants of Nigeria (ANAN), scaled second reading at the House of Representatives, on Thursday, April 29, 2021.

Gashinbaki: Nigeria loses N2.5tr to fraud/ corruption

The Chairman of the Society for Forensic Accountants and Fraud Prevention (SFAFP), Mr. Iliyasu Gashinbaki has said that N2.5 trillion is lost yearly in the national budget to public sector fraud and corruption. Mr. Gashinbaki said this while speaking at a virtual induction of 192 associates during the weekend monitored by the Nation. The SFAFP Chairman said the continent was losing about 25 per cent of annual budgets to these notorious schemes. He promised that the society would assist in plugging the leakages. SFAFP listed 10 most common schemes by which public officers bled the country as unlawful use of public assets for private advances; underpayment of taxes and duties on export as well as import. Others, it said, were fraud and embezzlement; payment of salary to ghost workers; bribery and extortion. Other are payment for air supply (goods or services not provided or rendered); over and under-invoicing; fraudulent court awards of financial compensations above damage suffered.

Institute Seeks Quick Passage of Forensics Bill

The fight against corruption is waning due to the dismal number of convictions secured by prosecution agencies such as the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Related Offences Commission (ICPC) and the Police. According to the President/ Chairman of Council of the Institute, Dr. Iliyasu Gashinbaki, the situation will be reversed once the Bill for the establishment of the Chartered Institute of Forensics and Certified Fraud Examiners is passed into law. The bill, which is being promoted by the Association of National Accountants of Nigeria (ANAN) scaled second reading at the House of Representatives on April 29, 2021.

‘Forensic investigation can curb Nigeria’s $10b yearly illicit financial outflows’

The application of Forensic science in Nigeria will halt the pervasive illicit financial outflows estimated at a whopping $10 billion yearly, particularly by the multinationals from Nigeria. Also, the deployment of fraud preventive technology will help Nigeria account for recovered loot and prevent their re-looting. These assertions were made by a forensic expert and Chairman Board of Trustees, the Society for Forensic Accounting and Fraud Prevention, Mr. Ilyiasu Gadhinbaki at the weekend in an exclusive interview with The Guardian.

Time to stop illicit financial flows

A quick review of the global statistics on frauds and corruption shows that, the damage suffered by African countries due to frauds, embezzlement, economic crimes, financial crimes and corruption is estimated to cost about 25% of the combined annual budgets of the entire continent. Unfortunately, if nothing is done to reverse this trend, it will exceed 45% of total combined annual budgets of African countries by 2050. The GDP of the world economy, comprising 194 economies, in 2020, is projected around US$83.84 trillion according to the IMF. While in the same year 2020, the total global frauds, economic crimes and corruption was over $8.3 Trillion; and Nigeria is amongst the top ten countries that are victims!

Bill On Forensic Institute ‘II Combat Illicit Financial Flows- SFAFP

The Society for Forensic Accounting and Fraud Prevention (SFAFP) has disclosed that the Bill for the establishment of the Chartered Institute of Forensics and Certified Fraud Examiners currently before the House of Representatives would combat Illicit financial flows when passed into law. President/chairman of SFAFP, Mr liyasu Gashinbaki, who disclosed this in Abuja yesterday, noted that the bill would reduce fraud, embezzlement, economic and crimes, and corruption in both public and private sectors of the economy.