The head of legal affairs at the Extractive Industries Transparency Initiative (EITI) in Senegal (EITI), Moustapha Fall said that Africa would lose more than $50 billion annually, due to illicit financial flows.

During a two-day workshop, aimed at strengthening the capacities of government officials and agents, on fighting corruption and fiscal control where Moustapha Fall addressed the issue of illicit financial flows, he said that Africa would lose more than $50 billion every year due to corrupt practices. According to the head of legal affairs at the Initiative for Transparency in Extractive Industries in Senegal, “these losses would be estimated at “more than 1,000 billion dollars”, calculated over more than fifty years