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Nigeria Loses $400bn To Capital Flight -Ibn Chambas
The Secretary of African Carribean and Pacific (ACP) group of countries, Dr Mohammed Ibn Chambas says $400billion of Nigeria’s oil revenue, has been lost to capital flight within the last decade.
Dr Chambas who spoke at the second Prof Claude Ake’s memorial lecture in Port Harcourt, also urged the authroties to end the culture of impunity in Nigeria.
The former ECOWAS Commission President, said that most African leaders feel disappointed that Nigeria despite her massive natural and human rsources, was yet to take its rightful position among the comity of nations.
He said that Nigerian leaders must tackle the incidence of corruption, weak legal system, poor power supply, politics of competitive ethnicity, while efforts should be made to check the rising tide of ethno-religious cleavages.
Meanwhile, the Rivers State Government says the memory of late Prof Claude Ake must not be allowed to die.
The state Governor , Rt Hon Chibuike Amaechi who said this during the memorial lecture added that Prof Ake was a social crusader in which the state was proud of.
The governor also directed the organising committee to ensure the revival of the Centre for Advance Social Science (CASS), while also ensuring that it reached out to the family of the deceased.
The chairman of the occasion, Ambassador Prof George Obiozor described the late professor as a combination of idealism and realism, stressing that his work had made great impact on African administration.
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