Nigeria, the world’s seventh largest producer of
hydrocarbon, accounts for about 68.1 per cent of the total revenue Africa is
losing annually as a result of illegal transfer of revenues abroad.
The report of the Thabo Mbeki High Level Panel on Illicit
Financial Flows from Africa adopted on Sunday by African Union Heads of State
and Government at their summit in Addis Ababa, Ethiopia said about $40.9billion
(about N6.87trillion) of an estimated $60billion (about N10.08trillion) lost through
such transfers from Africa are traced to Nigeria.
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