Speaker of the House of Representatives, Tajudeen Abbas, has raised alarm over the scale of corruption and illicit financial flows draining Africa’s economy, warning that billions of dollars needed for development are vanishing each year. The Speaker painted a grim picture of Africa’s financial haemorrhage, revealing that the continent loses over $587bn annually to capital flight and illicit financial flows, while Nigeria alone loses about $18bn each year to procurement fraud, equivalent to 3.8 per cent of its GDP. We must align our government budgets with the continent’s aspirations under Agenda 2063,” Abbas declared. Other reforms include strengthening fiscal responsibility laws, empowering Public Accounts Committees, reforming procurement systems, and training lawmakers in economic analysis. Abbas urged African parliaments to embrace artificial intelligence, blockchain, and digital platforms in budget scrutiny, citing countries like Estonia and South Korea where technology has curbed graft and improved accountability.