CORRUPTION IN NIGERIA: A THREAT TO SUSTAINABLE ECONOMIC DEVELOPMENT

ABSTRACT

Corruption remains one of the most significant challenges hindering Nigeria’s economic development. This study critically examines the impact of corruption on the country’s economy by analyzing high-profile cases of financial mismanagement involving political figures. Using secondary data sources, the study investigates patterns of embezzlement, money laundering, and political interference in corruption-related prosecutions. The findings reveal that corruption in Nigeria is deeply entrenched, with public officials diverting vast sums of money meant for national development into private accounts. The study highlights how political affiliations often serve as a shield for corrupt politicians, as those facing prosecution frequently defect to the ruling party to evade justice. Furthermore, corruption has led to severe economic consequences, including poor infrastructural development, reduced investor confidence, and a weakened judicial system. The diversion of public funds has resulted in inadequate healthcare, substandard education, and a decline in essential public services, exacerbating poverty and inequality. The study also identifies the role of international financial institutions in facilitating corruption, as stolen funds are often laundered through offshore accounts and foreign assets, making recovery efforts difficult. To combat corruption effectively, the study recommends strengthening anti-corruption institutions, enforcing judicial reforms, improving asset recovery mechanisms, and fostering international cooperation to track illicit financial flows. The findings underscore the urgent need for comprehensive political and economic reforms to restore accountability and transparency in governance. Future research should explore the long-term economic implications of corruption and assess the effectiveness of global anti-corruption strategies in curbing financial crimes in Nigeria.

 

Table of Contents

CHAPTER ONE: INTRODUCTION

1.1 Background to the Study

1.2 Statement of the Problem

1.3 Research Questions

1.4 Objectives of the Study

1.5 Significance of the Study

1.6 Scope of the Study

1.7 Limitations of the Study

1.8 Organization of the Study

CHAPTER TWO: LITERATURE REVIEW

2.1 Introduction

2.2 Conceptual Review

2.3 Theoretical Framework

2.4 Empirical Review

2.5 Summary and Gap in Literature

CHAPTER THREE: METHODOLOGY

3.1 Introduction

3.2 Research Design

3.3 Sources of Data Collection

3.4 Population and Sampling Technique

3.5 Method of Data Analysis

3.6 Ethical Considerations

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1 Introduction

4.2 Overview of Corruption Cases in Nigeria

4.3 Analysis of Financial Losses Due to Corruption

4.4 Political Interference in Corruption Cases

4.5 Economic Consequences of Corruption

4.6 Discussion of Findings

CHAPTER FIVE: SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS

5.1 Summary of Findings

5.2 Conclusions

5.3 Recommendations

5.4 Suggestions for Future Research

REFERENCES