Nigeria: Developing Nations Lost N150 Trillion in Illicit Financial Flows in 2011, Says OECD Report

19 December 2013

Developed countries have been indicted for failing to comply with international standards against money laundering, tax evasion, and corruption said to account for massive illicit financial flows in developing countries.

A report of a study by the Paris-based Organization for Economic Co-operation and Development, OECD, said some of the world's richest countries were responsible for most of the losses recorded by developing countries through illicit financial transactions.

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