The article unpacks GFI quarterly assessment report which revealed that Nigeria leads the pack of ECOWAS countries that have been losing money yearly due to illegal financial transactions involving local and foreign companies. The report reveals that the region with an estimated population of 335 million people, which is about one-third of the population of sub-Saharan Africa, yearly, suffers 78 per cent loss of its GDP, put at $345 billion, through this process while Nigeria suffers the biggest hit, with a loss of over $178 billion, being part of which has led to the worst economic recession in its history.
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