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Could Abolishing Tax Havens Solve Africa’s Financing Needs?

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AFRICANGLOBE - The past month, the spotlight has been on James Ibori, the governor of Nigeria's Delta state from 1999 to 2007, who pleaded guilty in a London court to 10 counts relating to conspiracy to launder funds from the state he governed. Ibori was accused of siphoning off an estimated $250m and laundering it in London through a number of offshore companies and financial intermediaries to fund his extravagant lifestyle of lavish mansions, expensive cars and private jets.
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