Nigeria ranked 76th out of 82 countries surveyed in the 2014 version of the Economist’s annual business environment ranking. Nigeria has retained this rank since 2009. The Economist cites corruption, weak infrastructure, deteriorating security and the absence of effective government institutions for Nigeria’s poor performance in the rankings. In a similar vein, a recent survey by Ernst& Young has shown that 88 per cent of the respondents in Nigeria believe bribery and corruption is widespread in the country, compared to 72 percent of respondents who thought so in 2012. More
A survey by EY (Ernst & Young) has shown that 88 per cent of the respondents in Nigeria consider bribery and corruption as being widespread in the country.
A comparison of the current results for Nigeria with that of EY’s 2012 edition, wherein 72 per cent perceived bribery and corruption to be widespread in Nigeria, indicates a significant increase in the perception index.
The EY’s latest 13th Global Fraud Survey tagged: “Overcoming Compliance Fatigue: Reinforcing the Commitment to Ethical Growth,” which disclosed this, also found concerning levels of perceived fraud, bribery and corruption across the world. Continue Reading