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

Olanipekun Olukoyede stressed at the Pan-African Conference on Illicit Financial Flows and Taxation that African countries lose $88.6 billion annually to illicit financial flows and that if these funds were recovered, infrastructure, healthcare and education across the continent could be significantly improved.