Nigeria - Most Fraudulent Country In Africa?

                            

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).


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 analyzing 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.

Hold on a sec: Why do we always have to be seen to take the lead in negativity?

Are these reports by various bodies the world over truly a correct reflection of the facts on ground?

Whatever happened to Zimbabwe (for the most fraudulent country in Africa) and Afghanistan (for the worst place to be born in)?

Zimbabwe runs a very closed government where Press freedom is not as robust as it is here in Nigeria, hence, news feeds about corrupt government influence is something we're not likely to hear. Bearing that in mind, are we to be crucified because our 'news' gets churned out to the public?

Afghanistan is fraught with conflict which kills men, women and children. Child mortality rate can't be any worse than it is here in Nigeria, can it? Considering that we're NOT at war, Nigeria has been tagged with being the worst place to be born in. . . How logical is this statement?

Last week, it was 'The worst place to be born in', this week, it's 'The most fraudulent country in Africa'. . . for real?

I think Nigerians should begin to question the way these bodies churn out facts gotten from questionable methods and processes, to tag us with a bad name.

So we report our cases of fraud. . .

So news articles and fraud cases are now available for analysis. . . but are these truly 'appropriate' yardsticks to label us 'Most Fraudulent Country in Africa'?

So we have a very vibrant media. . .

What if these information were NOT available? And where does that place countries whose corruption data are 'inaccessible'?

I'm not saying Nigeria is not corrupt, but to say we're the most fraudulent based on 'flexible' criteria is stretching it somewhat.

I'm just saying. . .