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According to Punch News Nigeria - Source
Nigeria has recorded illicit financial outflows of $
217.7bn in 38 years, specifically between 1970
and 2008, the Economic and Financial Crimes
Commission, said in Abuja on Wednesday.
The commission stated that the various
investigations, arrests, prosecution and assets
recoveries over the years had confirmed that the
level of corruption in Nigeria had been truly
staggering.
The Acting Chairman of EFCC, Ibrahim Magu,
represented by its Acting Spokesperson, Tony
Orilade, expressed these views at a one-day
conference organised by Online Publishers
Association of Nigeria with the theme: “Free press
and objective reporting in the 2019 election year.”
The EFCC boss said corruption in Nigeria was
being perpetrated by individuals and groups both
in the private and public sectors.
He identified former state governors, ministers,
high ranking military officers, chief executives of
parastatals and top bureaucrats in state and
federal agencies as culprits involved in the public
sector theft.
Magu said, “The alarming rate of corruption
committed by these unpatriotic elements can be
partly seen in the number of convictions secured
by the EFCC from Nigerian courts since I assumed
duty as the head of the commission in 2015.
“The figure stands at 103 in 2015, 195 in 2016,
189 in 2017 and 312 for the period of January to
December 2018. The total figure for the period of
2015 to 2018 is a mind-blowing 799 convictions.
In the process of such convictions, the EFCC
recovered N794.5bn, $261m, £1.1m, €8.1m and
CFA86, 500.
“One of the most graphic ways through which the
absence of democratic accountability manifests
itself in Nigeria today is through the prevalence of
rampant corruption at all levels of governance.
For example, Transparency International reported
that Nigeria was the most corrupt country in the
world for years: 1996, 1997, 2000 and second in
the line for remaining years up to 2003.
“In February 2015, a high-level panel on illicit
financial flows from Africa constituted by the
African Union, under the chairmanship of a former
President of South Africa, Thabo Mbeki, revealed
that Nigeria ranked first among ten African
countries by cumulative illicit financial flows
between 1970 and 2008. The total outflow from
Nigeria for the period was $217.7bn constituting
about 30.5 per cent of Africa’s total share.”
punchng.com/217bn-taken-out-of-
nigeria-illegally-in-38-years-efcc/

they should try and get back some of the looted money

Truevine:According to Punch News Nigeria - Source
Nigeria has recorded illicit financial outflows of $
217.7bn in 38 years, specifically between 1970
and 2008, the Economic and Financial Crimes
Commission, said in Abuja on Wednesday.
The commission stated that the various
investigations, arrests, prosecution and assets
recoveries over the years had confirmed that the
level of corruption in Nigeria had been truly
staggering.
The Acting Chairman of EFCC, Ibrahim Magu,
represented by its Acting Spokesperson, Tony
Orilade, expressed these views at a one-day
conference organised by Online Publishers
Association of Nigeria with the theme: “Free press
and objective reporting in the 2019 election year.”
The EFCC boss said corruption in Nigeria was
being perpetrated by individuals and groups both
in the private and public sectors.
He identified former state governors, ministers,
high ranking military officers, chief executives of
parastatals and top bureaucrats in state and
federal agencies as culprits involved in the public
sector theft.
Magu said, “The alarming rate of corruption
committed by these unpatriotic elements can be
partly seen in the number of convictions secured
by the EFCC from Nigerian courts since I assumed
duty as the head of the commission in 2015.
“The figure stands at 103 in 2015, 195 in 2016,
189 in 2017 and 312 for the period of January to
December 2018. The total figure for the period of
2015 to 2018 is a mind-blowing 799 convictions.
In the process of such convictions, the EFCC
recovered N794.5bn, $261m, £1.1m, €8.1m and
CFA86, 500.
“One of the most graphic ways through which the
absence of democratic accountability manifests
itself in Nigeria today is through the prevalence of
rampant corruption at all levels of governance.
For example, Transparency International reported
that Nigeria was the most corrupt country in the
world for years: 1996, 1997, 2000 and second in
the line for remaining years up to 2003.
“In February 2015, a high-level panel on illicit
financial flows from Africa constituted by the
African Union, under the chairmanship of a former
President of South Africa, Thabo Mbeki, revealed
that Nigeria ranked first among ten African
countries by cumulative illicit financial flows
between 1970 and 2008. The total outflow from
Nigeria for the period was $217.7bn constituting
about 30.5 per cent of Africa’s total share.”
punchng.com/217bn-taken-out-of-
nigeria-illegally-in-38-years-efcc/

Dis is Ridiculous