Be actively involved in financial decisions affecting continent, Rafsanjani urges African lawmakers
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By Perpetua Onuegbu
Abuja, July 4, 2025 (NAN) The Executive Director of Civil Society Legislative Advocacy Centre (CISLAC), Auwal Rafsanjani, has called on African lawmakers to be more actively involved in shaping and overseeing financial decisions that affect the continent’s development.
Rafsanjani made the call at the 2025 Financing for Development Conference (FfDC) held in Spain on Thursday.
The executive director, in a statement made available to newsmen in Abuja on Friday, also advocated for a strengthened legislative role in financing for development and accountable spending.
“Legislators must not be sidelined. They have the constitutional mandate to approve budgets, approve loans, monitor debt agreements and ensure that public and borrowed funds are used transparently and equitably.
“Lawmakers must strengthen financial integrity laws, demand public access to beneficial ownership registers and enforce stronger oversight of professional enablers who facilitate tax evasion and money laundering,” he said.
He also canvassed for the cancellation of what he called illegitimate and dubious debts as well as reform of global financial institutions.
“These debts are unjust. Their enforcement continues to stall development, burden future generations and weaken national sovereignty,” he stated.
The executive director expressed support for mandatory private creditor participation in debt renegotiation processes through a United Nation’s debt workout mechanism.
He aligned himself with Oxfam and Tax Justice Network Africa’s advocacy for increased concessional financing from wealthy nations and an end to fossil fuel subsidies that worsened climate impacts for vulnerable communities.
Rafsanjani called for democratisation of international financial institutions, such as the International Monetary Fund (IMF) and World Bank, stating that they were currently dominated by powerful nations and lacked inclusive representation.|
“We need a global financial system where African voices matter, and where oversight is not a formality but a right,” he said.
The executive director enjoined the Nigerian government to ensure full coordination and implementation of the conference resolutions as well as inclusive participation of all stakeholders to enhance a holistic and impactful execution. (NAN)
