International Monetary Fund (IMF)

Nigeria and International Financial Crime Regulation: Past, Present and the Future

This essay argues that a correlation exists between Africa’s colonial history and its money laundering occurrences. Yet the global standards adopted to combat this crime do not consider the country’s peculiarities, a catalyst for unintended consequences. This argument is presented in three parts. The first part centers its discussion on the impact of Nigeria’s colonial history on money laundering and the regulation thereof. The second part focuses on the compliance trajectory of Nigeria and argues that the absence of a truly global framework hinders proactive compliance. The final part postulates that Nigeria has differing options to sustain a robust fight against ML/TF and concludes that a suitable outcome warrants the alignment of internal realities with the global standards.

Thirty Seventh Sovereign Debt News Update: Kenya’s Sovereign Debts Amidst Projections and Reality

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Thirty Sixth Sovereign Debt News Update: IFIs, Paris Club and Africa’s Debt Dynamics

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Thirty Fourth Sovereign Debt News Update: African Sovereign Debt Processes and Procedures in Context

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Thirty-First Sovereign Debt News Update: Kenya’s Parliament as a Functional Debt Police

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Foreign Exchange Control and Capital Accumulation in Zimbabwe: Insights from Alami 2019

Based on a careful analysis of historical and contemporary capitalism in Zimbabwe, it has been shown that money and foreign currency management is deeply political. Hence, instead of being applicable to emerging markets only, there is a case for extending Alami’s work to developing countries in general. Alami’s book is highly recommended to anyone interested in understanding the functioning of money, finance, and indeed the logic of foreign exchange policies in sub-Saharan Africa.

Book Review of “Money Power and Financial Capital in Emerging Markets”, by Ilias Alami. Routledge, 2019

Alami’s book is particularly good at the empirics (full disclosure: I was one of the referees of this article by Alami; if my memory is correct I recommended either an immediate acceptance or publication after minor revisions). He describes and explains the ways and lengths walked by governments of these countries to manage a significant conjuncture in their recent history.