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Illicit Financial Flows from Developing Countries( 2004-2013) : Appendix Data

by by Kar,D and Spanjers, J.
Published by : Global Financial Intergrity (United States of America) Physical details: 7p. Year: 2016
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This is a full alphabetical computation of illicit financial outflows data figures from the Global Financial Integrity’s latest quarterly assessment report. The figures reveals that the Economic Community of West African States (ECOWAS) lost a total of $268 billion to illicit financial flows within a 10 year period from 2004 to 2013 according to an analysis by Ghana Business News’s Dogbevi,E. Nigeria suffered the biggest hit, with a loss of over $178 billion, being part of which has led to the worst economic recession in its history. Bribery and negligence of duty constitute some of the means that have sustained the loss in the past 10 years. The loss is therefore, approximately a colossal 78 per cent.

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