http://sunnewsonline.com/new/business/400bn-oil-revenue-misappropriated-ezekwesili/



Global Financial Integrity estimated that between 1970 and 2008, Africa lost more than $854 billion in illicit financial outflows, an amount which is far in excess of official development inflows.


Ezekwesili stated that while oil accounted for about 90 per cent of the value of Nigeria’s exports, over 80 per cent of that money ended up in the hands of one per cent of the population.

Nigeria and tiff-tiff. They are like 5 and 6.

Over $400 billion of the nation’s oil revenue has either been stolen or misappropriated since Nigeria gained independence in 1960.

This was disclosed by the former Vice President for Africa of the World Bank, Dr. Oby Ezekwesili, while presenting a paper titled: ‘Corruption, National Development, The Bar and The Judiciary’, at the ongoing 52nd Annual General Meeting (AGM) of the Nigerian Bar Association (NBA) in Abuja.

Ezekwesili stated that while oil accounted for about 90 per cent of the value of Nigeria’s exports, over 80 per cent of that money ended up in the hands of one per cent of the population.