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Africa: Illicit Cash Flows Hurting African Economies
VOA, 17 December 2013
Researchers working with the African Development Bank say that African countries have lost as much as $1.4 trillion in cash leakages over the last 30 years. Much of the lost money… Read more »
Illicit Cash Flows Hurting African Economies
The amount of illicit cash flowing out due to tax evasion and corruption has nearly doubled over the past three decades and continues to hinder development, experts say.
The Bakassi Peninsula, an area bordering Nigeria and Cameroon, lacks basic resources. Although primary education is free, enrolment rates are less than 50 percent.
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Africa: Piracy Ransoms Up to U.S. $339 Million - UN
UN News, 1 November 2013
Pirates off the coast of Somalia and the Horn of Africa have made between $339 million and $413 million in ransom profits, fuelling a wide range of criminal activities on a global… Read more »
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Congo-Kinshasa: We Need Your Help on Illegal Capital Flight, Officials Ask Mbeki
UNECA, 28 August 2013
Top Government officials, heads of Parliament as well as leaders of the civil society and the private sector of the Democratic Republic of Congo (DRC) say they are eagerly… Read more »
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Nigeria: Western Union Commits U.S.$100 Million Yearly to Tackle Illicit Funds
This Day, 20 June 2013
In view of the rising spate of money laundering globally, Western Union Money has revealed that it spends $100 million annually to combat the menace. Read more »
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Nigeria: EFCC - U.S.$129 Billion Fraudulently Transferred Out of Nigeria in 10 Years
This Day, 27 November 2013
The Economic and Financial Crimes Commission (EFCC) Tuesday said about $129 billion (N20.6 trillion) was fraudulently transferred out of Nigeria in the last 10 years through… Read more »
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Liberia: Why Is Liberia Playing With Fire? Illicit Financial Flows Report Warrants Serious Attention
FrontPageAfrica, 20 June 2013
WHEN FRONTPAGEAFRICA recently began raising questions about the possibility that laundered money could wind up in Liberia should the government proceed with its quest to accept… Read more »
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Africa: Illicit Deals Cost Africa Billions - Report
The Herald, 30 May 2013
THE African continent has been a long-term "net creditor" to the rest of the world, according to a new joint report compiled by the African Development Bank and the Global… Read more »
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Africa: Resource Drain Cost Africa U.S.$1.4 Trillion - Afdb Report
Daily Trust, 30 May 2013
A new joint report by the African Development Bank (AfDB) and Global Financial Integrity (GFI), launched yesterday at the 48th AfDB Annual Meetings in Marrakech, Morocco, reveals… Read more »
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Nigeria: 'U.S.$1.3 Trillion Siphoned From Africa in 30 Years'
This Day, 31 May 2013
Unrecorded illicit financial outflow from Africa in the last 30 years ranged from $1.2 trillion and $1.3 trillion, a joint report by the African Development Bank (AfDB) and the… Read more »
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Kenya: Chic Nairobi Throbs to the Beat of Dirty Money
AlertNet, 10 December 2013
Money flows as fast as the champagne in the chic bars opening across Nairobi. Read more »
