AN EXAMINATION OF CORRUPTION IN NIGERIAN ECONOMY
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The author contends that Nigeria's abysmal ranking in the transparency international (TI) corruption index or conversion with any citizen would indicate that corruption is rampant. The author states that the corruption started in Nigeria before independence. After the independence, the culture of corruption was transferred to the Nigerian elites and rulers. The objectives of the paper are to examine the nature and causes of corruption and the development of national economy. Using descriptive and historical method and content approach of gathering data the author observed that generally, the impact of corruption on the Nigerian economy can be viewed from two perspectives: corruption in the pubic sector and corruption in the private sector. The author noted that a survey report in 2003 on corruption showed that there was an increasing rate of corruption in the public services with the police topping the list. This has resulted in efficiency of parastatals and thereby reduces the productivity of the Nigeria economy. The author concludes that persistent stagnation and the decline in the Nigeria economy are the major factors generating corruption and recommends that to transform Nigeria into viable economy free of corruption, it is imperative to pursue a programme of vigorous democratisation and accelerated economic recovery.
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