In the poorest countries, the consequences are even more severe. From 1993 to 1998, he ruled Nigeria, the most populous country in Africa and one of the most promising. The effect is palpable. Though their nation is the world's 10th-largest oil producer, Nigerians regularly experience fuel shortages and blackouts. It is still trying to track down more secret accounts.
Country is oil producer.
Such earnings do not violate US law. In the 1980s, Congress prohibited banks from laundering money for drug lords and mafia figures. But suspect foreign officials are not subject to the same legal scrutiny. American and European banks actively solicit such lucrative clients - squirreling away billions for leaders from the Philippines to Pakistan. Recently, several pieces of legislation have been proposed to change this.