Some civil society organisations have advocated for sweeping global reforms to the international financial system ahead of the United Nations Fourth International Conference on Financing for Development (FfD4).
The conference is scheduled to hold in Seville, Spain, on June 30, 2025.
The CSOs urged world leaders who will attend the Seville conference to commit to more equitable global tax rules.
They also advocated for improved access to concessional financing, and climate justice measures such as dedicated loss and damage funds for vulnerable countries.
Nigeria’s position was contained in a newly published advocacy paper titled “Financing for Development in Nigeria: Sectoral Context and Insights for the Fourth International Conference,” released ahead of the conference.
The policy position was jointly put together by Civil Society Legislative Advocacy Centre (CISLAC) in collaboration with Oxfam in Nigeria, Christian Aid, the International Budget Partnership, Tax Justice & Governance Platform, Connected Development, and others under the Africa Agenda on Financing for Development (Agenda Afrique).
Lead speaker for the CSOs and Executive Director, CISLAC, Auwal Rafsanjani noted that the current financial architecture does not serve countries with large populations living in poverty.
He said: “Reforms to Special Drawing Rights (SDRs), more inclusive decision-making in global institutions, and democratised access to green financing are long overdue. We need a whole-of-society approach. Policymakers, legislators, the private sector, civil society, and development partners must work together to craft and implement strategies that can unlock new sources of revenue and improve financial management.
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“We must improve domestic resource mobilisation, combat illicit financial flows, eliminate waste and duplication, diversify our economy, and close the loopholes that allow money laundering, tax evasion, and capital flight to flourish.
“The upcoming global conference in Spain presents a strategic opportunity for Nigeria and other countries in the Global South to push for reforms in international finance architecture.
“We will be advocating for stronger global actions to combat illicit financial flows, recover stolen assets, and ensure fairer, more transparent international tax and debt systems.”