SaafNations ( A Global Forum for Citizens of Humanity )

By Sun News Publishing Tuesday,  April 20, 2010 News emanating from Africa can sometimes be disconcerting. One of the latest of these is a report released by Global Financial Integrity which shows that illicit revenue outflow from the continent amounted to a scandalous $854 billion (N28.277 trillion) in the last 38 years (1971 – 2009). The report from the Washington, USA-based organisation said the amount represents a cumulative, illegal capital outflow that is more than enough to clear the continent’s total external debts and address poverty. A breakdown of the illicit cash outflow shows that about 12 percent is as a result of bribery, theft, human trafficking, illicit drugs and tax evasion. These, the report claims, grew steadily at a disturbing average of 11.9 percent between 1970 and 2008. Perhaps, more disturbing is the revelation that Nigeria tops the list of the continent’s illicit financial couriers, with illegal fuel exporters and oil bunkerers fleecing the country o...

April 3, 2010 I.H.T. Op-Ed Contributor By PHILIP BOWRING HONG KONG — The 7-to-14 year sentences for corruption and theft of commercial secrets handed down on Monday by a Shanghai court to four former executives of the mining giant Rio Tinto have sent shock waves through the foreign business community in China. The severity of the sentences came as a surprise, given that Rio appeared to have patched up its relationship with its largest customer. The Rio chief executive, Tom Albanese, had recently made a high profile visit to Beijing and Rio had announced an agreement to sell Chinalco, the Chinese state metals giant, a 47 percent stake in a huge iron-ore venture in Guinea. As a result, many are seeing the harsh sentences, following a mostly closed trial, as evidence of a shift both in China’s attitude to big foreign businesses and in the balance of commercial power in the mining business. Take a step back. The surge in China’s ore demand spurred the global mining industry out...

The Nigerian government has requested the withdrawal of criminal charges against Nuhu Ribadu, the former head of the anti-corruption agency. Mr Ribadu faces charges of not declaring his assets while in office. The request is seen as paving the way for the appointment of Mr Ribadu as a special advisor on fighting corruption to acting President, Goodluck Jonathan. On Wednesday, Nigeria's Senate approved 38 of Mr Jonathan's 39 nominees for a new cabinet. As head of the Economic and Financial Crimes Commission (EFCC), Mr Ribadu brought more than 1,000 cases to court. Before his appointment no company in Nigeria had ever been charged for bribery. But in 2007 he was removed in controversial circumstances and later charged with not declaring his assets while in office, a contravention of the 1999 constitution. Anti-corruption campaigners say Mr Ribadu had upset powerful former state governors by trying to bring them to justice for alleged embezzlement. He is currently ...