Nigeria has lost an estimated $USD 480,000,000,000 in 54 years to corruption

A Chatham House report launched yesterday in Abuja has estimated that at least $480 billion was stolen by corrupt officials between 1960 and 2004.Chatham House, the Royal Institute of International Affairs, is an independent policy institute based in London.

The report, titled “Collective Action on Corruption in Nigeria, a Social Norms Approach to Connecting Societies and Institutions,” said that close to $400 billion was stolen from Nigeria’s public accounts from 1960 to 1999. It added that between 2005 and 2014, $182 billion was lost through illicit financial flows from the country.

This stolen commonwealth, the report observed, represents the investment gaps in building and equipping modern hospitals to reduce Nigeria’s exceptionally high maternal mortality rates estimated at two out of every 10 global maternal deaths.

http://www.nigeriacommunicationsweek.com.ng/news/corrupt-officials-steal-480bn-from-nigeria-in-54-years-report