CHAPTER ONE
INTRODUCTION
1.1. Background of the study
Nigeria is a nation bestowed with vast human and natural resources with oil exports accounting for about 95% of foreign-exchange income and some 80% of government income, with a population of about 158 million (Gbogbo, 2011). Despite its enormous array of resources, the Nigerian economy has witnessed a period of stagnant economic growth. This has been partly blamed on corruption and gross mismanagement of the country’s vast resources. Corruption has tremendously aected the lives and provoked animosity amongst Nigerians. It has eaten so deep into the fabrics of the Nigerian government, the public and private sectors, governmental and non-governmental organizations and has essentially become a way of life and an important source of accumulation of private property in Nigeria (Mustapha 2008). Corruption has greatly contributed to the backwardness and failure of good governance in Nigeria. The country has not been able to implement policies which promote good governance and facilitate the development and success of the democratic process due to the prevalent existence of both high (Political corruption) and low levels (Bureaucratic corruption). There is no doubt that this canker of development threatens the moral integrity of the nation and hampers development (Mustapha 2008). Over the years especially during the military regimes, little was done to fight this malaise. According to some analysts, even the anti-corruption eorts of governments such as MuhammaduBuhari/TundeIdiagbon and OlusegunObasanjo failed to produce desired results (Agbu, 2003). Some of these policies include: decree no. 5 of 1976 for the investigation of the assets of public oicers and supported by the Code of Conduct Tribunals and the Code of Conduct Bureau as prescribed by the 1979 constitution, the Corrupt Practices Decree of 1975, the 1979-1983 Ethical Revolution of ShehuShagari, the crusade against indiscipline undertaken by the BuhariIdiagbon government, the Corrupt practices and Economic Crimes decree of 1990 and the establishment of a national committee for the fight against corruption and Economic crimes between 1985-1993 by the Babangida regime . However the fact that corruption is still prevalent in the Nigerian society depicts the failure of some of these anti-corruption policies (Agbu, 2003). The biggest challenge for this country is not just to punish those who are involved in these corrupt practices but the education of her populace on the dangers and measures to tackle corruption (Obayelu, 2007).