The Laundering Of $182 Billion

Nigeria has been financially haemorrhaged by some corrupt leaders, as a report from the United States-based Global Financial Integrity indicates.














The agency recently said a total of $182 billion was stolen and laundered offshore between 2000 and 2009. Nigeria is ranked eighth out of 20 countries notorious for illicit financial outflows, just as it is placed 135th out of 176 in the Transparency International’s Global Corruption Perception index. The plundering of our commonwealth by just a few goes against the grain of prevailing crippling poverty, unemployment and decrepit socio-economic infrastructure.
The GFI described Nigeria as “the leading source of illicit financial outflow from sub-Saharan Africa.”  This is a huge paradox as the theft happened under a democracy. Since 1999, the country has been under civil rule. According to the GFI, it relied on analysis of data from the World Bank and International Monetary Fund to reach its conclusion, stressing that developing countries lost a total of $903 billion in 2009. Even now, the trend is accelerating as graft is worn as a badge of honour.
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