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Ghana loses 6 billion dollars yearly in mining sector Dr Abdallah Ali-Nakyea
April 30, 2021 •
Dr Abdallah Ali-Nakyea
Curbing illicit financial flows will be one of the surest ways for the government to raise money to fund the budget and other development projects, Dr Abdallah Ali-Nakyea, Senior Lecturer of University of Ghana Law School, has said.
He alleged that in the mining sector alone, the government lost $6 billion every year to illicit financial flows through transfer pricing and under invoicing.
Speaking at the Multi-Stakeholder Business Integrity Forum organised by the Ghana Integrity Initiative (GII), the local chapter of Transparency International, Dr Ali-Nakyea, said there would be no need for government to borrow to meet the financial needs of the country if illicit financial flows from the country was nipped in the bud.