The Ministry of Finance has entered into a strategic partnership with the Organization for Economic Co-operation and Development to tackle illicit financial flows and enhance Nigeria’s economic framework. The collaboration will focus on capital market development, regional integration, sustainable finance, and human capital investment.
This partnership was formalized during a courtesy visit by Carlos Conde, Head of the Middle East and Africa Division at OECD, to Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy.
According to a statement shared on the Ministry of Finance’s X account, the OECD highlighted its expanding engagement in Africa, emphasizing collaborations with the African Union, regional blocs, and direct country-level initiatives to drive economic development.
Nigeria was identified as a key partner in West Africa, with discussions centering on critical economic priorities such as capital market development, regional integration, sustainable finance, and investment in human capital.
The statement further noted, “Discussions focused on Nigeria’s economic priorities, including capital market development, regional integration, curbing illicit financial flows, sustainable finance, and investment in human capital.”
The OECD also outlined its technical support offerings, which include assistance in digitalization, governance, and statistical systems to enhance Nigeria’s economic framework. Minister Wale Edun welcomed the collaboration, emphasizing the importance of harmonized data systems in driving reforms, attracting investments, and creating opportunities for Nigerian youth.
