Fraud and corruption – definitions and impact

What is fraud?

Fraud is dishonest activity causing actual or potential financial loss to any person or entity including theft of personal identity, moneys or other property by employees or persons external to the University and where deception is used at the time, immediately before or immediately following the activity. This also includes the deliberate falsification, concealment, destruction or use of falsified documentation used or intended for use for a normal business purpose or the improper use of information or position for personal financial benefit.

The concept of fraud involves fraudulent or corrupt conduct by internal parties or external entities targeting the University, or fraudulent or corrupt conduct by the University itself targeting external entities.

What is corruption?

Corruption is dishonest activity in which a person abuses his/her position of trust in order to achieve some personal gain or advantage for themselves, or provide an advantage/disadvantage for another person or entity.

Corrupt conduct can take many forms including:

  • conflicts of interest
  • taking or offering bribes
  • dishonestly using influence
  • blackmail
  • fraud
  • theft
  • embezzlement
  • tax evasion
  • forgery
  • nepotism and favouritism

NOTE: Corruption does not include mistakes or unintentional acts.

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Legislature In Nigeria Is The Reason For Failed Democracy

In the 21st century there is ever growing attention to the issues related to democracy and good governance around the world. This results from the increasing acceptance of the fact that democracy and good governance are not luxury, but a fundamental requirement to sustainable development. Legislature as one of the key institutions in a democratic system has a critical role to play in promoting fair governance. As the democratically elected representatives of the people parliamentarians have an honorable task to ensure government is by the people and for the people. By performing the key functions of legislation, representation and oversight the legislature should actively engage in the development and implementation of laws, policies and projects promoting democratic principles of governance.

The legislature, or parliament, plays an important role in the life of a nation. It thus performs three main functions: adopts new laws, amends the existing laws and oversees the activities of the executive to ensure the government is accountable to the people. Achieving of good governance requires existence of an active, strong and efficient legislature. The parliament plays a crucial role in gauging, collating and presenting the views and needs of the people articulating their expectations and aspirations in determining the national development agenda. As an oversight body the legislature helps to identify problems and policy challenges that requires attention and assists in overcoming bureaucratic inertia.

Continue reading “Legislature In Nigeria Is The Reason For Failed Democracy”