Nigeria Says $15 Billion Stolen in Security Spending Scams
LAGOS, Nigeria, Capital Markets in Africa — Nigerian Vice President Yemi Osinbajo said about $15 billion was lost by the previous administration to fraudulent security spending scams, almost three times more than was previously estimated by the government. Osinbajo, who along with President Muhammadu Buhari defeated Goodluck Jonathan in elections last year on an anti-corruption campaign, said that the figure had only been discovered a few days ago, dwarfing the previous estimate of $5.5 billion allegedly misappropriated from contracts to buy defense equipment to…
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