The Independent Corrupt Practices and Other Related Offences Commission (ICPC), in conjunction with the Inter-Agency Committee on stopping Illicit Financial Flows (IFFs), held a two-day virtual and physical capacity building workshop on 28 and 29 June 2021. The programme was organised to build the capacity of senior and mid-level negotiators drawn from Ministries, Departments and Agencies (MDAs) involved in negotiating international agreements with foreign nations and companies on behalf of Nigeria.
Vice President Yemi Osinbajo SAN delivered the opening address, stating that poorly negotiated economic agreements have led to illicit financial flows and losses for many nations. He maintained that the quality of negotiators representing the country is reflected in the quality of the agreements signed, and that relevant skills, transparency and due process must be encouraged in the negotiation of trade, investment, tax, natural resources and environmental agreements.
NIPC's Executive Secretary, Yewande Sadiku, spoke on 'Understanding Investment Agreements', presenting the work being done by NIPC and Nigeria's International Investment Agreement (IIA) team in reforming the country's Bilateral Investment Treaties (BITs) to attract Responsible, Inclusive, Balanced and Sustainable (RIBS) investments. She shared details of the three phases of reforms aligned with Nigeria's sustainable development objectives.
Mrs Patience Okala, Legal Adviser at NIPC and Lead Negotiator of Nigeria's IIA team, facilitated the breakout session on Investment Negotiations, taking participants through the core elements of International Investment Agreements, including scope and coverage, standards of treatment, settlement of investment disputes, sustainable development, gender and MSME provisions.
