Financial Transparency Coalition

NO damage has been done after the Liberal Democrats announced a clamp down on offshore tax havens, Economic Development Minister Allan Bell claims.

In January of next year Nigerians will head to the polls to elect their next president. Nigeria’s exercise in democracy has so far lasted slightly over a decade, beginning with the country’s transition to civilian government in 1999 after a long period of military rule punctured with failed stabs at democracy. To alleviate ethnic and religious divisions, the current system includes a power-sharing agreement between the Muslim North and Christian South. By law, each term should alternate between a Northerner and Southerner, though the last three presidents have muddled the intended fluctuations. There are those who claim this election will...

BRUSSELS—A debate was held on transparency and extractive industries in Africa at the European Parliament on 15 September 2010, organised by CIDSE, an international alliance of Catholic development agencies and its partner organisation SECAM, the pan-African bishops’ conference. The debate highlighted how “the lack of transparency is killing the African people,” as stated by Bishop Louis Portella-Mbuyu of Congo-Brazzaville, who for years has fearlessly challenged his government and transnational extractive companies. EU legislation could contribute to recuperating the huge amount of uncollected tax revenue, far surpassing development aid. The European Commission recently reviewed its EU transparency regulation setting up transparency...

Stung by allegations of suspected money laundering levelled by Rome magistrates against the Vatican’s top bankers, the Holy See has insisted there had been a “misunderstanding” over two disputed money transfers and it had been co-operating fully with Italian and international authorities.