President Buhari on Wednesday September 25th, disclosed that Nigeria lost an estimated US$157.5 billion to illicit financial flows between 2003 and 2012.
The President noted that such massive loss of assets, resulted in dearth of resources “to fund public services or to alleviate poverty,” in the country.
According to him, “This is why, as Africans, we have no choice but to break the back of corruption. These flows deplete Africa’s internally generated revenues, foreign exchange earnings, reduce tax revenues, drain natural resources, facilitate corruption and stunt private sector development. That is why our government has made it a war we intend to win. We will give all it takes to ensure there is no hiding place for purveyors of corrupt practices who are truly enemies of the people. In the last five years, our government has made significant progress to curb corruption. We have recovered millions of dollars stolen from our country”.