“This study concentrates on capital flight and external debt in Nigeria. The study
will focus on the definition, magnitude, determinants, mechanisms and consequences of
capital flight. The analysis will also explore the possible measureable assets in which the money is held once it arrives abroad. Emphasis will be on the macroeconomic
effects of capital flight within the context of economic, socio-economic and other functions. Specifically, the study will
Examine the size and magnitude of capital flight for the period 1970-88; Analyze the economic (mainly macroeconomic) and other factors responsible for capital flight;
Examine conduits through which capital flight takes place; Identify the major consequences of capital flight on the domestic economy; Examine the linkages between capital flight and external debt and draw policy conclusions. “
