Capital Flight From Nigeria totals $233.9 Billion Dollars since 1970.

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TJN (Tax Justice Network) estimates capital flight from Nigeria has totalled $233.9bn in the four decades since 1970. Once investment income is included, this stock of secret wealth could be as large as $306.2bn, the report says – nearly 40 times the country’s total external debt of $7.9bn.

Report author James Henry said: “Since the 1970s … it appears that private elites in developing world countries have been able to accumulate at least $7.3tn-9.3tn of offshore wealth, even while many of their public sectors were borrowing themselves into bankruptcy, enduring agonising structural adjustment and low growth, and holding fire sales for public assets.”

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