According to ChainCatcher, Olanipekun Olukoyede, Chairman of the Nigerian Economic and Financial Crimes Commission, recently delivered a speech at the Pan-African Illegal Financial Flows and Taxation Conference, emphasizing that blockchain technology and artificial intelligence (AI) are key tools to solve illegal financial flows (IFF) in Africa.

Olukoyede pointed out that Africa loses up to $88.6 billion every year due to illegal financial flows, which is a shocking figure. If these funds can be recovered, it will greatly improve the infrastructure, health care and education of the African continent.

He believes that the application of blockchain technology and AI can help track and prevent illegal capital flows, thereby protecting Africa's economic interests. This view emphasizes the important role of blockchain technology in global financial governance and also provides a new direction for thinking about the future application of blockchain technology.