Nigeria bleeds as $1.7bn goes out weekly.

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A total of $88.4 billion left the shores of Nigeria to foreign lands through official channels in 2013 of which $18.3 billion was remmitted in three months thus giving an average foreign exchange outflow of $1.7 billion weekly.

This is just as the Excess Crude Account (ECA) component of foreign reserves has now fallen to just $2.5 billion, compared to $11.5 billion a year ago. The $18.3 billion went out of the country in the form of capital flight, which Nigerians indulged in.

According to figures captured by the International Remmittance unit of CBN, the amount was remitted through banks, Bureau De Change, Travel agencies and debt payment to foreign creditors to which Nigeria owes some money.

Malawi Records 1000 HIV Infections Weekly

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In Malawi, over ten percent of the population is HIV positive. The AIDS-ravaged country records an average of 1,000 new cases weekly, a top government official said on Saturday.

“It’s a great concern to us that despite efforts by government to prevent HIV and AIDS, the country continues to register about 1,000 new cases of HIV every week,” Edith Mkawa, a senior health ministry secretary in charge of nutrition, HIV and AIDS, told reporters.

“The number is very high. It is frustrating the fight against HIV pandemic,” she said.