CORRUPTION AND UNDERDEVELOPMENT (A CASE STUDY OF HALLIBURTON)

CHAPTER ONE

GENERAL INTRODUCTION

Background of the Study

A man can be born again; the springs of life can be cleansed instantly…if this is true of one, it can be true of any number. Thus, a nation can be born in a day if the ideals of the people can be changed [William Jennings Bryan].

Nigeria is one of the Countries in Africa that loses billions of dollars yearly because of corruption. She was ranked the second most corrupt country in the world in 2004

[Olu-Olu, 2008]. In 2005 and 2008, Nigeria was ranked 13^th and 17^th respectively out of 146 countries by Transparency International’s Corruption Perception Index

[TICPI]. Although the 2007 ranking placed Nigeria as the 32^nd most corrupt country out of 147 countries by TICPI, corruption still remains a serious problem in Nigeria [Shehu, 2006].

Corruption is    a    “multifaceted   phenomenon  with   multiple   causes   and   effects”

[Andvig and fjeldstad, 2001: 1]. It is a trinity of illegal money, commercial and criminal activities [Baker, 2005; Guanardi, 2008]. According to section 8(1) of the Anti-Corruption Law of Nigeria (2004), it entails the act of asking for, receiving or obtaining any property or benefit of any kind for oneself or for any other person. It involves the abuse of public office for self-aggrandizement or private benefits [World Bank, 1997].

The term “corruption” covers a wide range of conduct patterns. It is a product of the socio-economic and political structure of any society. As a multi-faceted.....

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