87m Nigerians live on less than $1 per day-CISLAC

The Civil Society Legislative Advocacy Centre (CISLAC) Thursday said in 2018 it recorded that 87 million Nigerians out of 200 million strong population live on less than $1 per day.

CISLAC said, that was the first time ever for such absolute highest number of people living in extreme poverty.

The Executive Director of CISLAC Auwal Musa Rafsanjani at the Anti-Money Laundering (AML) tracker launch /second AML stakeholders conference in Abuja said Nigeria has become a synonym for ‘fantastic levels of corruption’ and monumental graft.

Auwal, who was represented by the Legal Adviser of CISLAC, Barr. Adeshina Oke, said the AML tracker launch will highlight the fact that money laundering is a cancer that dries out the resources from a rich continent stricken by poverty and deprivation.

He said around $1 trillion of illicit financial flows leave developing countries through companies with hidden ownership according to the Financial Transparency Coalition .

He said the twisted irony that these illegal assets gained because of weak or non-existent of rule of law flee to places with good legal protection.

He said Africa is rich and that the combined wealth of Nigeria’s five richest men is worth 29.9 billion USD which could end extreme poverty in Nigeria within a year.

Also, the Programme Coordinator Anti-money Laundering of Transparency International, Jessica Ebrard, said the tracker launch is a tool which is used to access the performance of different countries as regards the fight against money laundering.

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