The Minister of Finance, Mrs Kemi Adeosun, says Africa loses over $50bn yearly to illicit financial flows through money laundering, corruption and tax evasion.


Adeosun said this at the opening ceremony of a capacity building workshop on the use of beneficial ownership information and the recovery of assets in Africa on Wednesday in Abuja.

The Minister was represented by the Director, Technical Services in the ministry, Mrs Larai Shuaibu.

“As a result of illicit financial flows, an estimated $50bn is lost every year in Africa.

“The Nigerian government has put in place a number of processes and has undertaken a lot of activities to trace these assets.

“I believe some of you have been witnessing some of the recent revelations that have been going on and a lot of things that have been coming to light.

Adeosun expressed concern that tax evasion, money laundry, corruption and other issues had also
continued to be a problem within the society.

She said that motions had being set in place and number of steps toward tackling corruption.


Read more @http://www.nairausd.com/2017/04/africa-loses-over-50bn-yearly-to.html

let her focus on Nigeria Jor......

I'm quite sure that Nigeria alone account for over 70% of the total loss.

You know, then plug it - atleast your end anyway!

Aufbauh:
I'm quite sure that Nigeria alone account for over 70% of the total loss.

Easy bro