ILLICIT FINANCIAL OUTFLOWS AND CAPITAL EXPENDITURES IN NIGERIA: AN OVERVIEW

MATHIAS NICHOLAS KWATMEN, LALU D. ISHAYA, NKURI L. MAIMAKO

Abstract


Given the growing concern for the increase in the rate of Illicit Financial Outflows and its attendant consequences on capital expenditures, the paper sought to evaluate the relationship between illicit financial outflows and capital expenditures in Nigeria. The linear regression analysis as a statistical tool to measure the relationship between illicit financial outflows and capital expenditures (independent and dependent variables
respectively) was employed for the study. There is a significant relationship between illicit financial outflows and capital expenditures. IFO deprives Nigeria of appreciable amounts of funds which could otherwise increase capital expenditures that can spur economic growth and complement the funding for infrastructures in the public sector. The finding would be of interest to the government of Nigeria, the International Community (African Union, United Nations and so on) that may enhance the realization of increase in capital expenditures which drives growth, progress and prosperity of Nations. It may also be of interest to Scholars, policy makers as well as members of the public. The paper contributes
to the sparse literature on illicit financial outflows and capital expenditures in Nigeria and to arouse the consciousness of Nations on the need to curb illicit financial flows across the globe.

Keywords


Illicit, financial outflows, capital expenditures, Nigeria.

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International Journal of Management Science Research ISSN ISSN 2536 – 605X(Print)

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