A London-based Chatham House representative and associate fellow, Matthew Page has advised the numerous outfits tracing the illicit flow of cash in Nigeria to focus on education and real estate sectors.
According to Page, those sectors provide immense oppurtunity for Politically Exposed Persons in Nigeria to launder money.
In a research paper Illicit Financial Flow through Real Estate and Education Secotors, Page revealed that Real Estate worth $400 million have been linked to Politically Exposed Persons in Nigeria across Dubai, London and are held by proxies.
The Chairman of the Inter-Agency COmmittee on stopping Illicit Financial Flow, Adeyemi Dipeolu disclosed that the committee has all hands on deck in curbing the menace as reported by the Premium Times.
