The Global Financial Integrity Report (pdf download here) makes grim reading. Illegal capital flight has resulted in over £1tn lost in Africa as a whole in the last four decades. Nigeria alone has lost US$165 billion since 1970 through money laundering (making it the number one money laundering country on the continent by far). The City of London, shrouded in nineteenth century peas-souper mist and a stubborn reluctance to divulge, has a significant role to play. The West can hardly preach transparency and accountability to anyone, least of all successive British governments. Its long since that the G20 should have acted..
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