At $89bn in 18yrs, illegal capital flight from Nigeria 2nd highest in Africa

In almost two decades, an estimated $89 billion, equivalent to 18.69 percent of Nigeria’s GDP, left the country as illicit capital flight, according to UNCTAD’s Economic Development in Africa Report 2020. The proceeds from oil export misinvoicing at $44 billion and $45billion from import misinvoicing between 1996 and 2014 contribute to an average of $4.94billion…

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