RealNews

The cost of corruption in Africa

Corruption costs Nigeria and other African countries about $148bn each year, President Olusegun Obasanjo says. Mr Obasanjo said the figure had been obtained from the African Union. The figure amounts to 25% of Africa’s official Gross National Product. The president was addressing the Extractive Industries Transparency Initiative (EITI) in Abuja. Mr Obasanjo has promised a “war against corruption” in Nigeria, which is notorious for graft. Full Story

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