Respected global audit and financial advisory firm, KPMG, has rated
Nigeria as the most fraudulent country in Africa, with the cost of fraud
during the first half of 2012 estimated at N225 billion ($1.5 billion).
The firm’s Africa Fraud Barometer, instituted this year, measures
fraud on the continent and asses the fraud risk that confronts companies
in their operations.
In KPMG’s second report, issued last Wednesday, it identified
Nigeria, Kenya and South Africa as accounting for 74% of the total
number of cases on the African continent, with Nigeria recording the
highest overall value of fraud in the first half of the2012.
Reported cases of fraud, however dropped from 520 in the first half
of 2011 to 503 in the first half of 2012, and the value of fraud fell
from $ 3.3 billion to $ 2 billion.
KPMG compiles the data for the Africa Fraud Barometer by analysing
available news articles and reviewing fraud cases from designated
databases.
The new report observed that Nigeria’s fraud profile has been
compounded by fraud and corruption in the oil sector, with “bribes in
the private and public sector, misappropriation, and contract inflation”
as common forms of fraud.
By contrast, Nigeria’s President, Mr. Goodluck Jonathan, last Sunday
in his chat with the media bragged that his administration is fighting
and winning the war on corruption, and that he has done better than his
predecessors in combating corruption.
In another report, “Global States of Mind: New Metrics for World
Leaders,” published on November 14, Gallop Poll declared Nigeria one of
the two most corrupt countries in the world, superior only to Kenya.
Contrary to Mr. Jonathan’s claims, the Gallup report showed that 94
percent of Nigerians believe there is widespread corruption in the
government.
No comments:
Post a Comment