Thursday, February 28, 2019
(BUSINESS) Oil Sector Tops $218bn Illicit Financial Flows From Nigeria
Oil and gas sector of the Nigeria economy is responsible for 92.9 per cent of illicit financial flows (IFF) with over $217.7 billion said to have flowed out of the country between 1970 and 2008. This is contained in report entitled, “Averting Illicit Financial Flows in Nigeria’s Extractive Industry,” released yesterday by the Nigeria Extractive Industries Transparency Initiative (NEITI).