Effect of monetary corruption on the economic development in Nigeria

Abstract

Corruption connotes impropriety and therefore, encompasses all forms of reprehensible, indecorous or infamous conduct in the performance of some officials, quasi-official or fiduciary responsibility. This paper examined the effects of monetary corruption on the economic development in Nigeria. The level of corruption varies widely across countries. This paper examined the issues related to the causes, effects, consequence and possible corrective actions of corruption for the design of monetary corruption. This is a national problem that has been seriously hindering the development of this nation. Undoubtedly, it is clear that corruption has done incalculable damage to our great country, Nigeria. It has taught us lesson that it does pay to be honest, sincere, hardworking and obedient servants or law-abiding citizens. Paper concludes and offer some recommendations which includes proper education for the citizens, religious leaders to intensify campaign for citizens to shun fraudulent actions and leaders to show good examples as Leaders amongst others.