Watch the following video it highlights the corruption in the oil industry in Nigeria. Although oil is said to account for 75% of the Nigerian economy, no-one knows how much the country actually produces or refines because hundreds of thousands of barrels of oil are stolen every day, at each level of the supply chain, it is estimated this could be costing the country $12billion annually which is contributing to approximately 60% of the nation living in poverty. (Source: BBC October, 2015)
Globalisation and e-commerce and banking mean that money can easily be moved from one country to another – but digital technologies means that it is also possible to track movements of funds.
