An African Union panel led by former South African President, Thabo Mbeki, has advised President Goodluck Jonathan and other African presidents to declare their assets following a report of illicit financial flows from Africa which was compiled by the union.
The report which was presented Sunday at a summit in Addis Ababa, Ethiopia, showed that Africa loses an estimated $60billion (about N10.08trillion) annually through such transfers and more importantly, the report has stirred massive concerns in Nigeria, which is said to account for over $40.9billion (about N6.87trillion), or 68 per cent of the total figure.
According to the report, cumulatively, Nigeria also topped the list of ten African countries with highest incidence of illicit financial transfers between 1970 and 2008, recording about $217.7billion (about N36.57trillion), or 30.5% of the total in the continent.
The issue of accountability and probity by top government officials has always been a source of serious concern in Nigeria, particularly with President Goodluck Jonathan repeatedly refusing to publicly declare their assets.
Source: Premium Times