This was disclosed by Dapo Olorunyomi, chief of staff to the chairman of the Economic and Financial Crimes Commission (EFCC) at a function in Lagos.

Olorunyomi, who was speaking at the yearly Dinner/Re-union of the Lagos State chapter of the University of Ilorin Alumni Association, said the figure was sourced from the records of the United Nations Development Programme (UNDP).

Olorunyomi said the amount was six times the amount needed to rebuild Europe after world war two.

The EFCC boss said it was saddening to know that the bulk of the $20-trillion stolen came after year 2000.

"It is rather appalling that as at year 2000, record showed that $100-billion had been stolen, with an external debt of $33-billion", Olorunyomi said.

Olorunyomi said the central problem facing the nation was that of governance, "Leaders are just looting, not caring for the people that they are expected to provide basic amenities for".

He challenged Nigerians to wake up to their responsibilities, "as the looting spree of our leaders has now constituted itself into a national problem, which is very bad for our economy. I want the public to help in the fight against economic and financial crimes, please, do not leave it for the EFCC only".

He encouraged the association members to go into their offices and homes to impact the drive to do away with economic crimes in the society.

This is coming at a time when there are allegations against the president and his vice, bothering on economic crimes.

Source: BusinessDAY

How public servants loot treasury by Nigerian AG

Public servants are in the vanguard of looting government treasury, a senior civil servant revealed yesterday in Abuja.Their style, according to the Accountant-General of Federation, Alhaji Ibrahim Hassan Dankwambo include manipulation of insider information and padding of the payroll.He spoke at the National 5th Seminar on Economic and Financial Crimes organised by the Economic and Financial Crimes Commission (EFCC). In his paper, Managing Public Funds: Ethical Challenges, Conflicts of Interest and Solutions, Dankwambo lamented that.......    More 

Photo Above: Nigerian N50( fifty naira ) local currency note.

Photo Above: Nigerian Ex-Bayelsa State Governor( Diepreye Alamieyeseigha ) Plush London Manson. Diepreye Alamieyeseigha was governor of Bayelsa State, Nigeria from May 29, 1999 to December 9, 2005. He was arrested and detained in London on charges of money laundering in 2005. Alamieyeseigha jumped bail in December 2005 from the UK disguised as a woman. He was impeached by the Bayelsa State Assembly on December 9, 2005 and later arrested for prosecution by Nigerian authorities. He remains in jail. Bayelsa, the state he governed for six years had no working electricity, yet he had been found to own real estate in London worth an estimated £10 million. Most of the Nigerian governors and leaders are also guilty of looting of the treasury.