Impact of Corruption in Nigeria

Impact of Corruption in Nigeria CORRUPTION AND ITS IMPACT ON INTERNATIONAL BUSINESS IN DEVELOPING COUNTRIES (NIGERIA AS A CASE STUDY) (FEBRUARY 2014) Abstract Corruption is no news in the world today. We can see corruption in our daily lives, let alone in our businesses and the way economies as a whole deal with corruption every day. That is why discussing corruption and seeking ways on how to deal with it in International business is inevitable. I chose Nigeria as a case study for obvious reasons; I am Nigerian and unarguably Nigeria is the Giant of Africa vast in its natural resources but unfortunately Nigeria is still battling with corruption which is crumbling our already poor nation and taken a toll on our International Business relations pushing potential business and development further away. This paper seeks to attempt to show why corruption is predominant in developing countries, its impact on International Business in developing economies and possible recommendations. I will first start by giving you a brief picture into Nigeria’s biggest export and make an attempt to analyze corruption itself. Introduction International Business is all commercial transaction between two or more countries and the goal of the private business is to make profits while the government is motivated by profit or political reasons (Daniels, Radebaugh, and Sullivan 2007). Business has become more global, trading has become easier with different regional trading blocs. This only encourages companies and economies to engage in International Business to boost its economy. Several economic theories show how countries’ competitiveness with other and Nigeria certainly has an Absolute Advantage in the Oil sector. Nigeria is a country with diverse and enormous mineral resources like crude oil, coal, zinc, semi-precious stone and gold to name but a few. Nigeria exports petroleum, petroleum products, cocoa and rubber. Nigeria is also rich with great human resources hence a great destination for business. The sudden growth of Oil in the 1970s led Nigeria to the abandonment of its strong agricultural and light manufacturing bases in favor of an unhealthy dependence on crude oil. Oil and gas exports account for more than 95% of export earnings and over 80% of federal government revenue. However, the success story in the sector has lead it thus far making Nigeria, the United States largest trading partner in sub-Saharan Africa, supplying 8% of U.S. oil imports which is half of Nigerias daily oil production .The country is also the fifth-largest exporter of oil to the United States. Nigeria is a member of the functional Commodity Agreements in the world; Organization of Petroleum Exporting Countries (OPEC), and its current crude oil production averages over 1 million barrels per day with oil reserves are estimated to be 36 billion barrels; natural gas reserves are over 100 trillion cubic feet. (Source 21 Feb 2012: http://www.nigeria.gov.ng/index.php/2012-10-29-11-05-46/economy) Table 1.1 Nigeria Economic Overview 2014 Nigeria Economy Overview Region Sub-Saharan Africa Income Category Lower middle income Population 168,833,776 GNI Per Capita (US$) 1,430 City covered Lagos Doing Business 2014 Rank Doing Business 2013 Rank Change in Rank 147 138 -9 Doing Business 2014 DTF(% points) Doing Business 2013 DTF(% points) Improvement in DTF(% points) 46.62 46.33 0.29 (Source 21 Feb 2014: http://www.doingbusiness.org/data/exploreeconomies/nigeria/ ) Corruption â€Å"The world is a chain, one link to another† Maltese Proverb, and with the rapid pace of globalization and the increase in the volume of International trade and investment , coupled with ongoing corporate scandals, has escalated the importance of issues relating to Corruption, Corporate Social Responsibility (CSR) and Politics (Rodriguez et al, 2006). As foreign firms expanded into, and new firms were born within, developing and transition economies governments, managers and scholars grew more aware of the magnitude of corruption and the need to understand and address it. Corruption has been described by several authors using very fancy words but keeping it simple; it is a wrongful act that affects the well-being of the society. Corruption abuses power for private gain and it affects everyone who depends on the integrity of people in a leadership position. It can be manifested through bribery, illegal gratuity, extortion, conflicts of interest, kickback, and corporate espionage and through commissions/fees (Source 21 Feb 2014: http://www.sfo.gov.uk/briberycorruption/briberycorruption.aspx) In public offices several ardent writers relate corruption with the continuous malicious use for self-financial gain but this is not exclusively the case because corruption also exists in both (small and large) private enterprises and their gains arise because of embezzlement, conflicts of interest, abuse of power, exploitation, bribery and fraud. (Sikka, 2008). Corruption in Developing Countries Unfortunately, it is not news to our ears that Nigeria is headed to being completely destroyed by corruption if continuous effort to curb it is not pursued vigorously. Well, I’m of the opinion the root cause of the present Nigerian corruption problem is the overarching crude oil economy and politics over the years. Transparency International is has efficiently made available a Corruption Perceptions Index (CPI) which ranks countries and territories based on how corrupt their public sector is perceived to be. The scale of 0 100, in the CPI is a s follows; 0 indicating that a country is perceived as highly corrupt and 100 indicating it is perceived as very clean. Please note the countries perceived as very clean and where those countries originate from compared to those perceived as highly corrupt further stressing my view that developing countries are highly corrupt due to the economic conditions thus affecting business. (Source 21 Feb 2014: http//www.transparency.org). Copy of CPI2013_GLOBAL_WithDataSourceScores.xls Nigeria is at 144, alarming! looking past tables in the Transparency International website in 2004, Nigeria was at 90. The last country on the list is an African one, Somalia. This goes without saying. If you look at the economic situation in Somalia, it is obvious. The poorer the nation the higher the corruption. But how can there be a balance? A nation needs Foreign Direct Investment to boost its economy. The Porter Diamond Theory (Daniels et al 2007) which naturally should help boost a nation may not work in a developing country like Nigeria, according to this theory companies’ development of international competitive product depends on their success in their home country, this theory is not feasible in most developing economies, these countries need foreign investors to set companies to harness the demands of the nation but with corruption as one of the factors affecting International Business, how will be nation grow strong enough to combat it? Sadly, Nigeria has no excuse for its failure so far, at present the problem of corruption issues has been saddled in into the laps of three government bodies: Economic and Financial Crimes Commission (EFCC) Independent Corrupt Practices Commission (ICPC) and the Code of Conduct Bureau (CCB), with little or no success considering Nigeria is still falling below the world’s Confidence Interval year on year, so how can International Business be seamless? You can also find current shocking details about bribery/corruption in Nigeria on bribenigeria.com. Won’t a corporation or nation rather deal with another continent with a lower corruption issue than invest or trade with a nation who is known for corruption? If I were to answer, my answer will be no. I believe that developed countries in the world have a better advantage over the fight against corruption because developed countries do not face the several challenges that developed countries face, so third world countries or developing countries like Nigeria, still have a long way to go. Multinational Corporation’s interest in fighting Corruption in International Business It has been argued that governments and host communities  may be interested in eradicating poverty, promoting education, health care and  human rights, but corporations may not necessarily share such goals. They are  essentially ‘private’ organisation and are required by law to prioritise the welfare of  the shareholders (capital) above other stakeholders (Sikka, 2008). Corporations’ today  should to conduct their operations responsibly with accountability to wider  society and legitimise their social power corporations may acknowledge some social  responsibilities, but they most often times can’t buck the systemic requirement to increase profits  and dividends to the benefit of capital. Businesses and organizations are set up to create wealth, and so far it is a very highly  effective tool for doing so. No limitations, whether legal, ethical or moral limit  are set to what or whom corporations can exploit to create wealth for themselves and their  owners. According to Sikka (2008), ‘such practices seems to be part  of the ‘enterprise culture’ that persuades many to believe that ‘bending the rules’ for  personal gain is a sign of business acumen’ (pg. 270). Competitive  advantages is considered to be an entrepreneurial skill, especially when competitive  business environment link profit and market shares with meeting global business  target. We see that the use of bribery and inducement to secure competitive advantages is primarily a  matter of executive discretion rather than any legal or moral compulsion. It has been  argued that this discretion may be used to enrich directors since their remuneration  is influenced by the level of profits and return to capital. Markets therefore exert  pressure on companies to generate ever increasing profits and returns as capitalism  does not provide any guide to upper limits of accumulation (Sikka, 2010). Companies  can generate additional returns for finance capital, not only through competitive  advantages on products and services, but also through bribery and other  inducements to secure government contracts which are the big and guaranteed revenue even though payments are delayed .In an attempt to satisfy the corporate  goal unfortunately everybody else is put at risk. Generally, the codes of business conduct include statements rejecting the payment or  acceptance of bribes, collusion, pressure or illegitimate favour, either directly or  through third parties whether public officers or private individuals but are often not respected. Y their involvement in corrupt practices and other anti-social practices cannot therefore be  reconciled with their business codes of conduct (Sikka, 2008, 2010; Otusanya, 2012). Environmental turbulence and threats to their reputation are managed by publishing corporate social responsibility (CSR) statements and code of conduct that promise ethical behaviour, improvement of economic and social infrastructure and quality of life of all stakeholders (Phillips, 2003; Sikka, 2010). Looking at it critically even if one organization restrains itself, the superior profits of competitors and business environment exert pressure to explore ways of matching or exceeding that,  thus the tendency to increase profits through corrupt practices as a means of gaining competitive advantages remains embedded within the corporate enterprise culture. In the end, it is a â€Å"means† to an â€Å"end† or â€Å"we all want to make money† some would say. Impact of Corruption in the International Business world Without a doubt corrupt activity hinders development, contributes to the depletion of the public purse and distorts markets, furthering hindering local and Foreign Direct Investment. The growth of a nation depends on the redistribution of its wealth since the middle class and poor benefit is much greater than the affluent, who loss out of the re-distributional process. Countries suffering from corruption cannot implement sound re-distributional policies and are not expected to take benefit from sustainable economic development despite engaging upon economic growth from time to time for some reason or the other. No country or company would like to engage in business with falling economies. Another pitfall is it becomes a way of life. Corruption is like a way of life in Nigeria, from the secretary that sits at the office expecting to receive a â€Å"gift† before passing the cheque for signature to our leaders who can only award contracts by our wonderful saying â€Å" if you help me, I go help you† ( *pidgin English which means if you scratch my back, I scratch yours). There are other things to consider, for instance the level of poverty. Nigerians do not know any way out. Word on the street, is you have to be smart, so you can survive. And survival here is relative. The danger of this is that is rubs off on the nation as a whole. Our image and reputation is constantly taunted. Business people need to find out if they need to cut corners before making an investment in Nigeria and need to know the â€Å"Man at the top† before the contract is awarded It ridicule’s the concept of open and fair competition; hence the continual decline of the economy. *â€Å"Pidgin English† is the low class English spoken on the streets in Nigeria† Summary International Business as stated earlier involves all commercial transactions, private and governmental, sales, investment, transportation that takes place between two or more countries for developing countries to find a way to curb corruption to its minimum; it must first start from the sectors and the leadership. Not forgetting that the various modes of entry ranging from Imports and Exports, Tourism Transportation, Licensing and Franchising, Turnkey Operations, Management Contracts, Direct and Foreign investments need to be rid of corruption (Daniel et al 2007). In the case of Nigeria, it makes sense that any effort to eradicate corruption in must start with the oil sector, because of its all-encompassing effects on other sectors of the economy and move immediately to harnessing other natural resources, focus on production of resources that the economy has demand for thus providing job opportunities for several people. Secondly, the law enforcement would need to sanitize its own department because it is a pity that in developing countries they are the most corrupt. I’m not confident of the efficacy of the sanctions and restitution imposed and how is it been effective handled, however if sanctions from those found guilty of corruption can also be re enforced. Finally, as also noted earlier, unfortunately it has become a way of life. The biggest step will be sensitization. The media and institutions of learning will have to collaborate to ensure these morals are instilled. A full blast media campaign on the effects, combined with tutorials in classes will surely make an impact. The earlier an individual realizes that it is not a norm, the better. People should not accept or give bribe and not cut corners the better for the whole society. Corruption can be tackled, it may take forever but with collaboration and eyes on the bigger picture; when purely looking at it from a business perspective, it is indeed wiser to build a good reputation that bring a lifelong investment than engage in activities that will only provide solutions for short term needs. References/Bibliography Daniels, Radebaugh and Sullivan (2007) ‘International Business Environments and Operations’, 11th Edition. Olatunde Julius Otusanya, Sarah Lauwo, Gbadegesin Babatunde Adeyeye (2012)  Ã¢â‚¬Å"A Critical Examination of the Multinational Companies’ Anti-Corruption Policy  in Nigeria† (Accountancy and Public Interest 2012). (Online journal 9th Feb 2014: http://visar.csustan.edu/aaba/Otusanya2012.pdf) Otusanya, O. J. (2011b) ‘Corruption as an Obstacle for Development in Developing  Countries: A Review of Literature’, Journal of Money Laundering Control, 14 (4):  387-422. Phillips, R. (2003) Stakeholder Theory and Organisational Ethics, San Francisco:  Berrett Koehler. Rodriguez et al (2006) ‘Three Lenses on the Multinational Enterprise: Politics,  Corruption, and Corporate Social Responsibility’, Rensselaer Working Papers in  Economics, No. 0608 New York. Sam Ejike Okoye. How to tackle corruption Effectively in Nigeria:  http://www.gamji.com/article4000/NEWS4930.htm (9 Feb 2014) Sikka, P. (2008a) ‘Enterprise Culture and Accountancy Firms: The New Master of  Universe’, Accounting, Auditing and Accountability Journal, 21(2): 268-295. Sikka, P. (2010) ‘Smoke and Mirrors: Corporate Social Responsibility and Tax  Avoidance’, Being Paper Presented at Essex Accounting Centre, Essex Business  School, University of Essex, UK http://www.essex.ac.uk/ebs/research/working_papers/WP2010-5%20PS%20CSR%20and%20Tax%20Avoidance%20Revised%20April%202010.pdf. (9 Feb 2014) Udelove (2010) ‘Why Nigeria Is Referred to as the Giant of Africa’. StudyMode.com: http://www.studymode.com/essays/Why-Nigeria-Is-Referred-To-As-449209.htm (21 Feb.2014) Yima Sen ‘Political Economy of Corruption in Nigeria’:  http://www.gamji.com/article9000/NEWS9136.htm(9 Feb 2014) Web. 9 Feb 2014 http://www.globalsecurity.org/military/world/nigeria/energy.htm> Web. 21st Feb .2014 http://www.transparency.org > Web .21 Feb.2014 http://www.nigeria.gov.ng/index.php/2012-10-29-11-05-46/economy> Web. 21 Feb 2014 http://www.doingbusiness.org/data/exploreeconomies/nigeria/> Web. 21 Feb 2014 http://www.sfo.gov.uk/briberycorruption/briberycorruption.aspx>

Hinduism, Islam, and Christianity Essay

Hinduism, Islam, and Christianity People of different religions are in contact with each other every day, and do not even realize it. Here in the United States there is a compilation of many religions. Three major religions not only in the United States, but also throughout the world are Hinduism, Islam, and Christianity. There are many differences, and few similarities when comparing Hinduism, Islam, and Christianity. Not only are the backgrounds of these religions similar and different, but so are the practices that they still live out to this day. Hinduism originated between 4000 and 2000 BC. Hinduism believes in Karma, â€Å"you reap what you sow,† and reincarnation. Reincarnation is the belief that after death, the soul can come back to earth in another body. The Hindu trinity is the Brahma, Vishnu, and the Shiva, which are the three aspects of the same divine being. There are four goals in the life of a Hindu. They are Kama, Artha, Dharma, and Moksha. These mean the fulfillment of certain desires, wealth, religious duties, and not wanting things. The cow and the bull are both considered sacred and should not be slaughtered. So Hindus are forbidden from eating beef. There are many festivals affiliated with the Hindu religion, because they believe it keeps them close to their gods. At least once a month, there is a Hindu festival, where they celebrate their diversity. Islam is the second largest religion in the world, and the fastest growing religion in the world. Islam is the belief in the Judeo-Christian God. Muslims are monotheistic, and believe in the five pillars of Islam. The five pillars are the Shahada, Salat, Zakat, Sawm, and the Hajj. The Shahada means testimony, Salat is for prayer, Zakat is for giving, Sawm is for fasting, and Hajj means pilgrimage. According to Muslims, Muhammad was a cornerstone of Islam, and he was god’s messenger. For Muslims, the pig is an unclean animal, and is forbidden to eat unless prepared in accordance with prescribed rules. Intoxicating drinks and substances are prohibited. Christianity is a major world religion that adapted over 2000 years ago. It is the belief that Jesus of Nazareth is the Son of God. The major text of Christianity is the Bible. The Bible concludes of an Old and a New Testament, and is a compilation of books. Christians have many ways of religious practices. There are festivals and feasts, which are usually celebrated on holidays. The communal worship takes place on Sundays and other days of the week in which people from the church come together for rituals. The last is private worship, which is used when one is alone, where they can engage in prayer, devotions, and spiritual practices. Islam is a religion founded by a prophet. In contrast, Hinduism is a group of religious traditions, established over a period of time. In Hinduism personalities do not count as much as the divine law or the dharma. So in Islam the message of Islam is far more important than the person of Muhammad himself. Unlike Christianity, Muslims do not worship their prophet. Unlike Islam, Hinduism is strictly monogamous. Christianity, Hinduism, and Islam all share similarities and differences. Unlike Hinduism, Christianity and Islam share the belief of only one god. Hindus have a god for fire, death, water, etc. The practices of Christianity and Islam are sometimes in groups, while Hinduism is practiced alone. All three religions believe in the efficacy of prayer. But Hinduism and Islam believe in the importance of remembering and reciting the names, words, and deeds of god, for inner purification. Unlike Islam and Christianity, Hinduism has the choice of an intervener between god and a person, such as a priest or a guru for assistance. Intimate relationships are not approved of in Islam and Hinduism. Dating is considered both irreligious and immoral. In these two religions along with Christianity, premarital sex is considered immoral also. In conclusion all three religions share that they believe in an afterlife, and strive for immortality. For all religions death is a normal and natural thing that leads to an eternal life. Christianity and Islam are closer together then Hinduism. Mostly Europeans adopted Christianity along with Islam in the 18th and 19th centuries. This means that both Christianity and Islam have been influenced in some ways by the European culture. The Europeans have pulled Christianity and Islam close together while the Europeans have never influenced Hinduism, which makes Hinduism different from the other two religions.

The Diverse Nature of Psychology Essay examples - 1075 Words

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Drug Prevention And Driver Safety Programs - 1183 Words

Introduction Criminal justice is the system in which governments uphold social control, deter crime, sanctioning of those who violate laws with penalties, and rehabilitation efforts. There are many positions you can take in the criminal justice field to ensure safety to the public. As much crime that has been going on in the recent decade, we have to try to control it as much as possible. Duties/Roles On a local level, a police officer’s job is to protect and serve. They monitor criminal activity, respond to emergencies, issue tickets, make arrests, investigate crimes, and also testify in court as needed. They make arrests to deter crime and illegal behavior in their communities. Police officers can also be involved in the community.†¦show more content†¦There is no such thing as a typical day for an FBI agent, every day is something totally different. You can work anywhere from a desk to a tent in a desert. Fitness/Skills In order to become a police officer you must have certain skills. An important ability is to use good judgment and to problem solve. When a police officer is in a predicament, they must be able to think fast and use their judgment. They must be able to multitask and be able to work as a team. To become a private investigator you will need to have certain skills as well. You need to be good spoken and written communication skills. Strong analytical skills and observational skills are a must. Basic computer skills are needed to carry out investigations. You must possess the ability to work independently and have a knowledge for law. Patience and perseverance is key to being a private investigator. Some critical skills of an FBI agent include: accounting, finance, computer science, engineering expertise, foreign language, intelligence experience, law experience, law enforcement experience, military experience, physical sciences expertise, diversified experience, or tactical operations. You then msut pass the physical fitness test, applicant must achieve a minimum cumulative score of twelve points with at least one point in each four events. The

Wild Fowl Trust Free Essays

Trust stayed around for approximately 2 years, nested and bred in the trust’s environment before flying off eventually with their fledged young. Many injured birds are brought to the trust. They have had some successes, working with vets with this particular expertise and with the wild life orphanage and rehabilitation centre. We will write a custom essay sample on Wild Fowl Trust or any similar topic only for you Order Now The success stories include a Masked/ Blue Booby, Ospreys, a Brown Pelican, a Gray Hawk, Gallinule, Jacana’s, Song Birds, Psittacosis and different Owl species. Fun Facts: Scarlet Ibis birds are born brown in color but get their red color from rotten in crabs. They also eat shrimp and fish. You can tell the difference between a black billed tree duck by color of their beaks. Adults have bright orange beaks. Blue and Gold Macaws have one mate their entire lives and when that mate dies they don’t find another. You can’t tell the difference between male and female Blue and Gold Macaws unless you take blood samples from them and test it. In situ conservation is on site conservation of genetic resources in natural populations of plants or animal species, such as forest genetic in natural populations of tree species. It is the process of protecting an endangered plant or animal species in its natural, either by protecting or cleaning up the habitat itself, or by defending the species from predators. The Wild Fowl Trust is an example of in situ conservation. One benefit of in situ conservation is that it maintains recovering populations in the surrounding where they have developed their distinctive properties. Another is that this strategy helps ensure the on-going processes of evolution and adaptation within their environments. Wetlands play a vital role in the cycling of water on the planet. Water evaporated from the seas or transpired from plants returns as rainfall filling both upland and lowland wetlands. Wetland systems, and their forested counterparts, slowly release their waters either to the atmosphere or to the sea, playing a major role in governing world climate. With the flow of water arrives a steady input of nutrients from the surrounding land – the organic silts and sediments settle and, warmed by the sun, provide ideal conditions for the growth of microscopic plants and animals – the base of aquatic food chains. Fact: A well established marsh is estimated to be up to 50 times more productive than grassland and about 8 times as productive as cultivated land. The Water Hyacinth (Chorine specious) – Pointed-a-Pierre Wildfowl Trust:This important plant is used as a food source at the Trust. Leaves, insects and crustaceans in the roots are eaten by waterfowl. A water purifier, this plant also absorbs large amounts of dangerous pollutants (including mercury and lead) from the water and helps keep any water area clean. Prolific, 10 plants can reproduce to cover an acre of water in 8 months. How to cite Wild Fowl Trust, Papers

Exploring Seo Techniques for Web free essay sample

It is a science of designing website to maximize search engine ranking. All of the elements are collected and created with the goal of obtaining higher search engine ranking. Most important elements are entry and exit pages, page titles, site content, graphics, website structure, keywords, links, html and Meta tagging. Most people do not invest on search engines because in their opinion Search Engine Optimization (SEO) is quite expensive and time consuming. They prefer to go with paid advertisements on the Internet provided by different online companies or hire different companies to perform SEO campaign on their behalf. The main motivation behind my work is not only to optimize a website but also find a package that is suitable to most of the company’s (Euroway Media) customers and improve their website ranking in Google. Search for particular information on the Internet can be a very tedious task because of context. We will write a custom essay sample on Exploring Seo Techniques for Web or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For example, if you are looking for a search keyword on the search engine, it may come up with different results such as information related to search engines or algorithms or maps or some route. So, a search is dependent on many things and not easy to achieve. In order to get a desired goal or aim it is important to keep all these perspectives in mind [12]. Euroway Media works on web designing, development and graphic profiling particularly on website design and development. It is successful and growing IT Company with core business in Stockholm. The focus will be ease of use in both -1- thinking and form. They also have some web based products which include Close Contact, Euroflower (Content Management System), Webhotels and some statistical tools. 1. 1 Aims and Objectives My study also deals with the same kind of problem which is the reason for selecting this approach. Case study is also supported by action research because this study is more focused on how practitioners do certain tasks rather by asking them. I was involved in all processes. Specifically, after the completion of research related to Web 2. 0 and SEO, I was also responsible for implementing and quality controlling it. The focus was to search technical improvements in existing layouts of the products using Web 2. 0 and SEO standards. In this case study, I have investigated and evaluated different search engine optimization techniques in websites. This study also presents some useful techniques that can be used in any website without putting too much effort. This study is a kind of descriptive study, reviewing and evaluating existing theory and knowledge in the field of web design, development and marketing. This project involves a thorough study of Web 2. 0 and SEO and improves the understanding in this area. Furthermore, it identifies strengths and weaknesses of this field. 1. 5 Research Settings In order to fulfil the main aim of this study I have developed websites and modified EuroFlower, a CMS system. SEO and Web 2. 0 techniques are researched and applied on these websites and CMS system was modified accordingly. The most important websites I have worked on are www. eurowaymedia. com, www. coface. se, and www. alaramexpress. se. Furthermore, Google tools like Google AdWords, AdPlanner, and WebMaster etc are evaluated and used. I worked alone on search engine techniques and presented my finding to the management in the form of presentations and reports.