Lagos — The recent report by the Africa Union (AU) revealed that Nigeria, the world's seventh largest producer of hydrocarbon, accounts for about 68.1 per cent of the total revenue the continent loses annually to ilicit transfer of revenues abroad.
The report of the Thabo Mbeki High Level Panel on Illicit Financial Flows from Africa adopted on Sunday by African Union Heads of State and Government at their summit in Addis Ababa, Ethiopia said about $40.9 billion (about N6.87 trillion) of an estimated $60 billion (about N10.08 trillion) lost through such transfers from Africa are traceable to Nigeria.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article