NITDA and ICPC Look to Technology to Reduce Financial Fraud

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The National Information Technology Development Agency (NITDA) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) will host the 2022 Illicit Financial Flows (IFFs) Hackathon.

This is in line to deploy technology in the fight against corruption.

According to a statement co-signed by the Head of NITDA’s Corporate Affairs and External Relations, Hadiza Umar, and the ICPC spokesperson, Azuka Ogugua, on Monday, the hackathon will give young Nigerians the chance to use their creativity and entrepreneurship to use emerging technologies to fight corruption and other unethical practices that harm the socio-economic fortunes of the country.

It urged interested individuals or groups to visit this link and apply before the closing date on August 26, 2022.

According to the statement, the Illicit Financial Flows (IFFs) Hackathon is aimed at developing indigenous solutions to curb illicit financial flows (IFFs) in Ministries, Departments, and Agencies (MDAs), checking illegal transfer/movement of funds within Nigeria and across international borders and ensuring effective monitoring of procurement processes.

It said, “talented Nigerians will be tasked with coming up with clearly-defined ideas and prototype solutions to checkmate IFFS, with emphasis on leveraging emerging technologies like Artificial Intelligence (AI), Cloud, Big Data, blockchain, Quantum computing, Internet of Things (IoT), Augmented Reality (AR), and Virtual Reality (VR), among many others.”

“The two-day event scheduled to take place on September 1st and 2nd 2022 will open with a bootcamp at the National Centre for Artificial Intelligence and Robotics (NCAIR), Abuja, while a Demo Day will take place at ICPC Auditorium, Abuja on the second day and final day.

“Therefore, ONDI is calling for applications from eligible individuals or groups with innovative ideas and prototypes that would leverage emerging technologies to help address the menace of IFFs within the nation’s expanding digital economy.

“ONDI is a subsidiary of NITDA, created to ensure the promotion, growth, and protection of the Nigerian digital innovation ecosystem for the growth of Nigeria’s digital economy.”

“The Office has a responsibility to facilitate the growth of the Nigerian digital economy through the creation of innovation-driven enterprises that will promote job creation and the proliferation of market-creating innovations to create more prosperity for Nigeria,” it added.