Nigeria: Cost of Corruption

Nigeria: Cost of Corruption

Adeniyi Bamgboye It is no longer news that corruption has increased astronomically in recent years in Nigeria. A skeletal scan through the pages of several newspapers now depict cases of persons fraudulently diverting public funds, former public holders standing trials in different courts for one case of economic crime or the other. Some suspected persons […]
As someone who thinks most times in monetary terms, I think returning a looted fund is not enough. What happens to the humongous interest foregone on such amount? We are no longer in the stone age where monies were buried in the ground for safe keeping. These monies would have been kept in a bank, either foreign or local. Some suspected persons may even use those funds to acquire properties and later decide to crystallize it to cash when they notice the heat is getting too much. It seems no one is talking about that aspect. This can also be likened to a businessman who borrows money from a bank but decides to pay only the principal thereby leaving the interest element unpaid. This then brings us to the issue of the cost of corruption to Nigeria as a country


Source: Nigeria: Cost of Corruption

- PM News Nigeria