Within a four-year period covering 2014 to 2018, over $1bn was lost by the country to Micro, Small and Medium Enterprises-related corruption, a report released on Wednesday in Abuja has revealed.
The report titled “Stolen dreams: How corruption negates government assistance to Nigeria’s small businesses” was produced by the Carnegie Endowment International Peace in collaboration with the Open Society Initiative for West Africa.
The key findings of the report were presented by the Lead Partner, Sustainable Entrepreneurship and Economic Development Initiative, Mr Celestine Okeke.
Based on the Central Bank official rate of N306 to a dollar, the $1bn translates into about N306bn.
Culled from The Punch Newspapers
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