CHAPTER ONE

1.0 Introduction

In 2011, Nigeria was ranked 143th out of 182 countries surveyed by the corruption perception index indicating the level of corruption in the country as compared to other countries. Although this rank came as an improvement from the previous years, it did not result from an improved system of governance, rather it was due to an increase in the number of countries that participated in the survey. Nigeria became an independent nation on the 1st of October 1960. A country richly endowed with monumental geographical and diverse natural resources ranging from crude oil to gas (natural), coal, et al. Nigeria possesses potential market ability for rapid economic development. However, in spite of these obvious resources and its advantage, Nigeria remains a poor and underdeveloped country. Scholars have achieved and advanced several reasons to explain this parlous and depleting state. One of the major and prominent factors advanced is Corruption. Corruption has been a major problem in Nigeria since independence. Corruption is a global phenomenon with deep historical roots, although it manifests itself with significant similarities and differences in different societies depending on the particular system of power distribution and the legal and moral norms operatingtherein. Due to the pervasive nature of corruption in Nigeria, Nigeria’s former President OlusegunObasanjo in his inaugural speech on May 29 1999 affirmed that corruption, the single greatest bane of our society today would be tackled head- on, at all levels.

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