At least $50bn (N8trilion) is illegally taken away from Africa every year, the United Nations has said. The chairman of the United Nations High Level Panel on Illicit Financial Flows from Africa and former South Africa President, Thabo Mbeki, said this in Abuja yesterday when he led a delegation of the panel to meet President Goodluck Jonathan at the State House.
Mbeki said the panel was determined to study the problem and propose solutions, adding that the panel would like to meet relevant members of the National Assembly in view of the need for legislation to check the threat posed by the illegal capital flight to the survival of the continent.
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