A former deputy governor of the Central Bank of Nigeria (CBN), Dr. Obadiah Mailafia, has said that about $200 billion out of $700-$800 billion of stolen wealth stashed in foreign banks, is suspected to be from Nigeria.
He said the amount of illegal monies taken out of developing world can resolve most developmental challenges bugging the victim countries.
Mailafia advocated for amnesty for corrupt Nigerians to repatriate money stashed in foreign lands back into the country, saying such can trigger economic boom […]
It was gathered that the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed in a policy brief that Nigeria loses $200 billion yearly due to the non-passage of the Petroleum Industry Bill (PIB).
The brief also alerted the nation to the fact that another $15 billion is lost yearly in fresh investments to regulatory uncertainties.
With Nigeria in recession, NEITI urged President Muhammadu Buhari to take the lead and infuse urgency into the passage of the PIB as part of measures to […]
Femi Falana, Human rights activist has called on the federal government to jettison plans to borrow $2 billion from China or any other country, asking it to, instead, intensify efforts to recover the nation’s wealth which had been criminally diverted by a handful of local and foreign looters.
Falana, in a statement yesterday, disclosed that he had, in an earlier letter similarly, advised government against borrowing $2.5 billion from the World Bank and another $1 billion from the African Development Bank […]