10 November 2017

Africa: Politicians Steal U.S.$50 Billion Yearly From Africa, Obasanjo Alleges

Photo: This Day
Allegations of bribe.

Abeokuta — Former President Olusegun Obasanjo has said that over $50 billion is being stolen and smuggled from Africa to other countries yearly by political leaders and businessmen as well as other key players in both public and private sectors.

Obasanjo, who spoke yesterday at the maiden yearly anti-fraud conference, organised in Abeokuta, the Ogun State capital, by the Association of Certified Fraud Examiners (ACFE), Lagos Chapter, lamented that the smuggling of the huge funds meant for socio-economic growth and development of the African continent is now giving African leaders, past and present, great concern.

The former President, who was named Grand Patron of ACFE, Lagos Chapter, "because of his efforts against fraud and corruption in Nigeria," noted that the nation and other African countries might not develop if leaders and followers do not show concern about the ugly trend.

He, therefore, called for concerted efforts towards curbing the trend.He also charged financial professionals and all members of the association and everyone generally to help in curbing the trend not only in Nigeria but Africa as a whole.

President and Chief Executive Officer, ACFE, Godwin Oyedokun, said: "It is really a delight to host Chief Olusegun Obasanjo. Your acceptance of our invitation is an indication that you have the love of this nation at heart."

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