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 2012.
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.
Reference: KPMG
No comments:
Post a Comment