$182 Billion Siphoned out of Nigeria Between 2000 and 2009 – Foreign Report

Must Read

Hoodlums Set Oshiomhole’s Rally Venue Ablaze

According to reports, the venue to be used for a political rally by the All Progressives Congress (APC) in...

Review Of University Curriculum In Final Stage: NUC

According to the executive secretary of the National Universities Commission (NUC), Prof. Abubakar Rasheed, the commission is in the...

Find Political Situation To Boko Haram Insurgency: UN To Buhari

The United Nations (UN) resident and humanitarian coordinator in Nigeria, Edward Kallon has urged the Nigerian government to find...

CAN Declares 3 Days National Fasting For Nigeria

The Christian Association of Nigeria(CAN) has declared 3-days national fasting and prayer for Nigeria. The Christian body declared Friday,...

Rev Andimi: Nigerians Knock Adesina Over Comment Against CAN

Nigerians have taken to social media to fault Femi Adesina, presidential spokesperson over his comment against the Christian Association...
News is my life; my life is good news!

oilmoneyAn international organization, the United States-based Global Financial Integrity (GFI) has released a report on currency laundering across the world as it documented Nigeria as a leading source of illicit financial outflow in Africa, the country’s leaders having stolen a huge sum of $182 billion out of the country in 10 years.

Co-authored by GFI’s Lead Economist, Dev Kar, and GFI’s Economist, Sarah Freitas, the report is the first by the organisation in incorporating a new, more conservative estimate of illicit financial flows, as Nigeria ranks 8th among 20 countries put under review on illicit financial outflow.

According to its recent statement, the GFI said it used the World Bank and IMF data to quantify and pattern the illicit financial flows coming out of developing countries between 2000 and 2009, which depicted “Nigeria as the leading source of illicit financial outflow from sub-Sahara Africa” within the period.

The GFI report had shown that developing countries lost US$903 billion in illicit outflows in 2009, although there was a significant decrease from the US$1.55 trillion they lost in 2008, the decrease arising essentially from global financial crisis within the vast majority of countries and not due to improved governance or economic reforms.

- Advertisement -


  1. You people should stop posting this rubbish, ur posting it for us to do what? I said it before if oil should dry up in Nigeria, our leaders will sell humanbeings to make money in broad day light, cos for now they are doing it secretly…


Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -