Nigerian public officials have stolen more than $400 billion from state coffers since the 1980s, with much of the funds transferred to and retained in wealthy foreign countries.
This is according to peer-reviewed academic research and official government records.
A study published in the Journal of Governance and Regulation by Virtus Interpress shows that Nigeria lost over $400 billion to corruption between 1960 and 1999 alone, a trend that continued into subsequent decades.
Nigerian government assessments have similarly put
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