ICPC: “Corruption Costs Nigeria N700 Billion Last Year”

The Chairman of the Independent Corrupt Practices and other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu has revealed that Nigeria lost a staggering N700 billion to an estimated 87 million cases of bribery last year 2023.

The ICPC boss disclosed this at the International Law Conference organized by Ahmadu Bello University on Thursday.

Aliyu painted a grim picture of corruption’s pervasive impact on the nation. He described it as the most significant obstacle to Nigeria’s development, eroding trust in government, undermining the rule of law, and stifling economic growth.

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The ICPC boss highlighted the alarming frequency of bribery, particularly in rural areas, emphasizing the need for a comprehensive approach to tackle the issue.

He cited a Nigeria Bureau of Statistics survey ranking corruption as the fourth most pressing problem in the country after cost of living, insecurity, and unemployment.

Aliyu expressed optimism about the increasing public awareness of corruption.

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“Despite these challenges, we are making progress. The rate of citizens reporting bribe payments to official authorities increased from 3.6 per cent in 2019 to 8.6 per cent in 2023. This is a testament to the growing awareness and willingness of Nigerians to fight corruption.” he said.

Abuse of office and sexual harassment were also identified as major concerns. Aliyu referenced a World Bank survey indicating that 70% of female graduates experienced sexual harassment in tertiary institutions.

The ICPC chairman called for concerted efforts to address these issues, emphasizing the need for both legal and social interventions.