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News headlines from various news sites

Corruption: An Albatross Around Our Necks

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A loaf of bread placed on a table in a room without preservation gets mouldy within 48 hours. Options available to us are to cut off the moldy portion and still leave it on the table or keep the bread in the fridge ab initio. The temperature in the fridge provides a conducive environment that is kept constant which preserves the whole bread. This process demands extra effort from the provision of a fridge to the constant power supply that creates that enabling environment/temperature that preserves the whole bread. It therefore follows that decay (and thus corruption) happens naturally, except definite/specific interventions are introduced to control it. Continue Reading

The 5th Annual Christopher Kolade Lecture on Business Integrity!

The 5th Annual Christopher Kolade Lecture on Business Integrity!

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The 2008 global financial crisis re-emphasized the importance of compliance and risk management but perhaps a tale of the fall of Britain’s Oldest Bank, Barings, could further buttress the point. Even though, the fall of Lehman Brothers and numerous banking scandals after Barings by far incurred losses of greater magnitude, there remains a story to be told with the fall of Barings Bank hence the apt theme for this year’s event:

“Prevention is better than cure, even on the issue of Corruption”

Special Guest of Honor

Guest of Honor

Keynote Speaker

Nick Leeson

Nick Leeson, the infamous ‘rogue trader’ at Barings Bank whose dealings led to the collapse of one of Britain’s oldest Banks.
The fall of Barings was a wake-up call for financial Institutions all over the world. 

 

Thursday, 29th June, 2017
Time: 17h00

________________________________________
D VENUE-
WATER CORPORATION DRIVE, OFF LIGALI AYORINDE STREET, LEKKI, LAGOS (ON THE SAME STREET WITH LANDMARK EVENTS CENTRE)

For Confirmations please contact: YINKA JOHNSON –yinka.johnson@cbinigeria.com; CYNTHIA APKOMUDIARE – Cynthia.akpomudiare@cbinigeria.com- +234 8182003952, +234 8023012704

Time to Clean the Augean Stables in the Private Sector

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The ravages of bribery and corruption is a topic that has obviously attracted a lot of scholarly comments and opinions but very little action. This short article is aimed at examining the claims that corruption risks in the corporate sector are measurable. It aims at identifying the common forms of corruption in the corporate sector and how to eliminate same. The closest paradigm of such exercise is the OECD’s Good Practice Guidance on Internal Controls, Ethics and Compliance which works by identifying certain “corporate red flags” including bribery, kickbacks, facilitation payment, charitable and political donations (sponsorship, travel, and promotional expenses), collusion, cartels, patronage, Illegal information brokering, and tax evasion. Continue Reading

Nigeria: The Rotten Barrel?

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‘A rotten apple spoils the whole barrel’ is the proverbial saying that has been used by many to describe how corruption spreads. This suggests that a bad person can infect/corrupt a group of people. The story of Eve and the serpent in the Garden of Eden corroborates this notion. The serpent deceived on Eve, who went on to deceive Adam, and Adam in turn infected the entire world with sin, as the story goes. However, you are likely to read stories about rotten apples, not about rotten barrels. So what happens when the barrel is rotten? As corruption is both systemic and endemic in Nigeria, it begs the question: Is Nigeria a rotten barrel? In such a situation, where are the positive influences expected to come from? Can those who are themselves down help others up?  Can many wrongs make right?  What are the implications of tackling corruption in a rotten barrel? Continue Reading

RFP – Corruption Risk Management Information System

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 Integrity is currently seeking the services of an IT firm or a team of IT professionals to develop an IT based information system to track, analyze, map and expose (TAME) corruption risks within the Nigerian environment. The final system is envisioned as an App running on smartphone based mobile devices and accessible to key stakeholders in the Nigerian economy. Continue Reading

SCiN 2016-2017 Graduate Internship Programme

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Shell Companies in Nigeria (SCiN), in collaboration with the Petroleum Technology Association of Nigeria (PETAN) has launched the 2016 – 2017 stram of its Graduate Internship Programme. This programmer was developed to promote human capital development in the Nigerian oil and gas industry. The 12-month programme supports manpower development in engineering and geology/geoscience disciplines and equips graduates with vital industry experience.

PETAN has over 50 member companies that provide specialized services to the Nigeria oil and gas insustry. The interns who participate in this programme will work in one of PETAN’s member companies for 12 months.

Eligibility Criteria

  • The candidate must be an Engineering or a Geology/Geoscience graduate
  • The candidate must have completed the mandatory National Youth Service Corps year and have the discharge certificate
  • Candidate should not possess more than 3 years’ work experience post-NYSC
  • Candidate should be 28 years or younger

Interested and qualified candidates are to send their curriculum vitae to NCD-events@shell.com.

The submission of application closes on June 10, 2016.

Source: IEEE.org

FG to establish six new varsities of science and tech – Minister

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The Minister of Education, Malam Adamu Adamu, says the Federal Government is working toward establishing six new universities of science and technology to expand access to tertiary education.
Adamu disclosed this at a News Agency of Nigeria Forum on Tuesday in Abuja.
He said the future of the world depended on science and technology.
He said: “This government has already decided to even add more; it is going to establish six new universities of science and technology.
“And at the lower level, there will be a technical school in each state of the federation and then vocational centres at the wards and local government levels.

Over 8m to benefit from N500b social investment – Presidential aide

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The Federal Government would be directly impacting the lives of more tan eight million Nigerians in different social investment 2016 budget spending that would provide succour and be a ready-made palliative to ordinary Nigerians.
This disclosure was made on Sunday by the Senior Special Assistant for Media and Publicity to the President, Laolu Akande, in an interaction with the press in Abuja.
Akande gave new details and a breakdown of the interventions and palliatives, some of which he said would be starting in a matter of weeks.
These include the direct payment of N5,000 monthly to one million extremely poor Nigerians for 12 months as provided for in the 2016 budget, for which N68.7 billion has been appropriated; the direct provision of very soft loan – cash for market women, men and traders, including artisans and Agric workers. Read more

Highlights from the Symposium on Funding & Sustaining Anti-Corruption Efforts in Nigeria

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The Convention on Business Integrity (CBi) and the INTEGRITY Organization (Limited by Guarantee) held a symposium in Abuja on March 10th, 2016 (10h30 -13h00).  The aim of the symposium was to spark a debate on how to effectively fund and sustain anti-corruption efforts in the Nigeria. For the fight against corruption to be effective and far reaching, there needs to be concrete ways of funding, driving and sustaining anti-corruption efforts in Nigeria that complement’s the president’s body language. There needs to be more support from leaders of the business community, all arms of government, civil society and the general public. Extensive deliberations on finding an effective Nigerian response to this global problem are needed. As a former EFCC Chairman once noted, “if Nigeria does not kill corruption, corruption will kill us.” Continue Reading

3rd Christopher Kolade Lecture Coverage: Voice of Nigeria interviews VP Osinbanjo and Dr. Christopher Kolade

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