President Mhammadu Buhari
President Mhammadu Buhari

President Muhammadu Buhari has said that Nigeria lost about one hundred and fifty seven point five billion dollars to illicit financial flows between 2003 and 2012.

The President’s spokesman, Femi Adesina said Buhari announced this in an address to the High-Level National Side-Event organised by the African Union Development Agency and New Partnership for Africa’s Development, AUDA-NEPAD.

The event was also organised in collaboration with the Economic and Financial Crimes Commission, EFCC in New York, on the margins of the 74th United Nations General Assembly.

While quoting from the 2014 Global Financial Integrity Report, the President noted that such huge loss of assets resulted in dearth of resources to fund public services or to alleviate poverty, in the country.