The Economic Community of West Africa States, ECOWAS, has revealed that the African continent loses a staggering eighty-eight point six billion dollars annually to corruption and Illicit Financial Flows.
ECOWAS Commissioner for Political Affairs, Peace and Security, Ambassador Abdel-Fatau Musah, who disclosed this in Niger state at a regional certification training on financial investigation for anti-corruption institutions in the ECOWAS region, regretted that the development takes up three point seven percent of the continent’s Gross Domestic Product.
Represented by the ECOWAS Head of Democracy and Good Governance Division, Ebenezer Asiedu, Musah noted further that corruption and financial crime are among the biggest obstacles to economic and social development in West Africa and around the world.
