Multinationals’ tax scams rob Africa of money

Faced with lax laws and poor enforcement, foreign firms operating in countries like Nigeria are cheating the system.

African leaders, experts and stakeholders are meeting to discuss African-led solutions to the impact of illicit financial flows in the continent, estimated at more than $50bn.

Faced with lax laws and poor enforcement, multinational companies doing business in Africa – from oil to service industries -are cutting corners, denying countries such as Nigeria substantial revenue.

Al Jazeera’s Ahmed Idris report from Abuja.

Source : Al Jazeera

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