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 Nigeria loses $18bn annually to tax evasion, money laundering, others ― CISLAC - Spotile

Nigeria loses $18bn annually to tax evasion, money laundering, others ― CISLAC

By Bose Adelaja

Against the backdrop of corrupt practices in Nigeria, Civil Society Legislative Advocacy Center CISLAC, on Tuesday, lamented the rising increase in corruption in Nigeria saying the country loses about $18bn annually to tax evasion, money laundering, and other related offenses especially outside the country.

Speaking in Lagos, at a media workshop for investigative journalists on “Effective Reporting of the Asset Recovery and Management System in Nigeria,” which took place in Ikeja G.R.A, CISLAC Executive Director, Auwal Ibrahim Musa (RAFSANJANI) said the $18b according to International financial intelligence has rated Nigeria the worst in illicit financial flows offenders in Africa, in terms of elaborate international fraud schemes.

He said the workshop was a follow-up to a similar workshop held in Abuja where journalists were trained on the same subject matter.

According to him, ‘reputable’ law firms and other…

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