Illicit Financial Flows Most African countries gained independence in the 1960s but have failed to develop significantly, as corruption and conflict have hampered a stronger pace of economic growth. Indeed, since the 1960s, illicit financial flows from Africa have represented a major culprit in this. In this connection, 1-what is the estimated amount of illicit financial flows from Africa over the past 50 years. 1- $50 billion 2- $100 billion 3- $500 billion and 4- $1.5 trillion. 3-Which of the following is the only African country among the top 10 in the world in illicit financial flows? 1- Nigeria 2- South Africa 3- Angola and 4- Libya. ANSWERS 1-$1.5 trillion dollars IS the amount of illicit financial flows from Africa over the past 50 years, $1.5 trillion. An amount that can power the whole of Africa ten times over. 2-Nigeria is the only African country among the top ten in illicit financial flows world wide at number 7 in the world, ranked ahead of India, Indonesia and the UAE.
Posted: Jun 5th, 2015 @ 03:34:47 AM