27 October 2012

Nigeria: Institute Decries Large Scale Corruption in Nigeria

The President of the Institute of Chartered Secretaries and Administrators of Nigerian (ICSAN), Mr. Olatunde Busari, has decried large scale corruption in the country.

Busari, who made the remark at the dinner as part of the Annual Conference of the Institute in Abuja, described corruption as a hydra-headed monster, which kept rearing its head in all the organs and agencies of government.

"The malaise further ridicules the system to the extent that even when culprits are apprehended, it does not appear that we have effective machinery for thorough investigation, prosecution and sentence according to the law", he said.

The ICSAN boss said there were various examples of private and public officers that engaged in corrupt practices and were today walking the streets as free men.

According to him, this gives an impression that corruption is rewarding in the country.

Busari said that to create the desired environment for investment, the government must develop effective legal regime and structures strong enough to apprehend, investigate and prosecute corrupt officers in Nigeria.

On energy, he advised the Federal Government to set necessary machinery in motion to ensure transparency and efficiency in the on-going reform in the power sector.

The ICSAN boss said the absence of infrastructure in any economy was inimical to business investment and sustenance.

The theme of this year's Conference was "Investing and Sustaining Businesses in Nigeria: Issues in Governance".

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