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Stemming the tide of Corruption in Nigeria

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stop-corruption 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. Continue Reading

Survey: Bribery, Corruption on Increase in Nigeria

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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

$35m lost daily to oil theft – Confab committee

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The National Conference Committee on Energy has said that the country is losing about 350,000 barrels of oil per day, estimated at about $35m, to crude oil theft and called on the Federal Government to wake up from its slumber and tackle the menace frontally.

The Chairman of the committee, who is also a former Governor of Oyo State, Alhaji Rashidi Ladoja, stated this while presenting the report of his committee to the plenary in Abuja on Monday. Continue Reading

Voice of the People

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It was with gladness that I read that the Akwa-Ibom state legislature repealed the portion of the offensive pension law that specified that ex-governors and deputy governors of the state would be provided annual medical treatment up to N100million and N50million respectively. Other provisions of the pension law include a mansion in Uyo or Abuja, a new official car and a utility vehicle once in every four years, a personal aide and provision of adequate security, etc. during the lifetime of the governor, at the expense of the state. The pension law would have made it possible for the governor to draw a pension of about N200million annually. This is equivalent to the gross annual salary of 925 workers who are paid the minimum wage of N18, 000 monthly. Continue Reading