Former President
John Dramani Mahama is calling on Africans in both the public and private
sectors to fight corruption.
[LEARN PROFESSIONAL COURSES FOR FREE AND GET CERTIFIED WITHIN 48HRS ]
Mr. Mahama
described corruption as an economic malady that hinders development.
He raised
concerns about graft, which he said thrives due to the layered irresponsibility
of institutions and state actors who are required to fight it.
The former
president made these comments when he was the Special Guest at the 53rd Annual
Conference of the Nigeria Institution of Surveyors and Valuers (NIESV) under
the theme, “Asset Valuation as a Global Anti-Corruption Tool: The Nigeria
Experience.”
<<< Earn $300 Daily by Selling Website Builder <<<
“Because
corruption is a global challenge, its scope and seriousness have led to calls
for a worldwide response and cooperation in the fight against it. Corruption is
an economic malady. Mr Chairman, corruption hinders economic development,
diverts investments from infrastructure, institutions, and social services, and
undermines efforts to achieve other country-specific development goals and
targets. And we all know why. Graft thrives due to the layered irresponsibility
of institutions and state actors that must fight it. Whichever way you
visualise it, corruption must be fought whether it occurs in the public or
private sector”.
He highlighted
discretionary power, economic rent, strong legal system as elements required to
fight corruption.
LEARN PROFESSIONAL COURSES FOR FREE AND
GET CERTIFIED WITHIN 48HRS
“There are at
least three elements required for corruption to occur. First, someone must have
discretionary power, which includes the ability to influence the formulation of
regulations and administer them. Second, economic rent must be associated with
discretionary power, primarily when higher rents are related to the misuse of
discretionary power. Third, when the governance or legal system offers a
sufficiently low probability of detection or sanction for wrongdoing,” the
flagbearer of NDC posited.
According to
him, corruption scares investors away from investing in a country.
“Corruption also
retards growth because bribes paid by investors to secure investment licenses,
including building permits, increase the cost of doing business and,
consequently, reduces the incentive to invest in a country. Corruption also has
adverse effects on productivity. If the permits and licenses needed by
innovators or new producers are obtained by paying bribes, that could impede
the entry of new goods or technology onto the markets of many economies,” he
asserted.
Mr. Mahama
advised the Nigerian Institution of Estate Surveyors and Valuers to champion
efforts to enhance data availability.
<<< Earn $300 Daily by Selling Website Builder <<<
“Finally, the
Nigerian Institution of Estate Surveyors and Valuers must champion efforts to
enhance real-time data availability, improve technology adoption for land and
real estate services online, and formulate relevant legislation for property
management,” he urged.
0 comments:
Post a Comment