$40.9 billion dollars is being looted from Nigeria every year under the current administration, according to the African Union.
This is the lion-share of Africa’s total $60 billion annual revenue losses and is about twice Nigeria’s yearly budget. Total income lost both internally and externally is estimated as up to three times the national budget.
The African Union as it made its commitment to muster 7,500 troops to assist a seemingly helpless Nigeria in combating Boko Haram, has at the same time rebuked the Nigerian government for corruption and pilferage.
Directing its charges at the president of Nigeria, Goodluck Jonathan; the AU demanded Jonathan and other notably corrupt African leaders declare their assets. Nigeria’s president has never declared his assets.
Diversion of funds for the army has been blamed on the failure of Nigeria’s army to contain Boko Haram which has been able to grow causing thousands of deaths and millions in destruction to property in Nigeria and also extending its death and destruction to north Cameroon.
The United States recently in a statement by Ambassador Entwisle, asked the Jonathan government to probe its military chiefs who had suddenly amassed “billions.” A former army general, Azubuike Ihejirika is estimated to be worth millions of dollars and is the richest retired Nigerian General. He was in charge of the war against Boko Haram for the major four years of the Jonathan government.
The Nigerian government is yet to formally respond to the AU charges.