N21 trillion has been laundered out of Nigeria in 10 years – EFCC chairman

November 27, 2013 7:49 PM

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Posted in wpzoom Around the Web on November 27, 2013 8:38 pm / no comments

The chairman of the Economic and Financial Crimes Commission (EFCC) Ibrahim Lamorde has said that an estimated $129 billion (N20.6 trillion) was illegally transferred out of Nigeria in the last 10 years.

He said this at a seminar organized by the Swiss Confederation and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), in cooperation with the Government of Nigeria.

He also said that the Nigerian financial intelligence unit domiciled within the EFCC estimated that between 2009 and 2013, about $25.4 billion were moved out of the country through cross border physical movement of cash and financial instruments.

Source: ynaija.com

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