Daily Trust (Abuja)

29 August 2012

Nigeria: N40 Trillion Stolen From Country in 13 Years

Abeokuta — Former National Assembly member, Sen. Femi Okurounmu has said that N40 trillion was stolen by the country's leaders between 1999 and now.

Okurounmu in his paper at a town hall meeting organized by the National Patriotic Movement in Abeokuta yesterday said in the 39 years period between independence in 1960 and the return to civil rule in 1999, the World Bank and UN officials estimated that over $400, that is N64 trillion was stolen from Nigeria. "The extent of government's tolerance of corruption or even the encouragement of it is illustrated by the fact that out of the 54 incidents listed in the records just given to you, only in four cases were the culprits sentenced to imprisonments in Nigeria", he said.

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