Capital flight: 70% of Nigeria's private wealth is overseas.

Position:Business Briefs - Brief Article
 
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More than $100bn of the private wealth of Nigeria's citizens is kept overseas, making the country the worst case of capital flight in sub-Saharan Africa. This is the conclusion of a study by the United Nations Industrial Development Organisation (UNIDO). The money is invested in foreign property, vehicles and stock markets. The report warns that having such huge wealth located overseas harms the economy and is a...

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