The Nation - World Bank bribe for contracts report: Sagay, Aremu, others carpet govt

The Nation - World Bank bribe for contracts report: Sagay, Aremu, others carpet govt

This is the problem with my country; do we need the World Bank to tell us or to remind us that bribery is a big issue in Nigeria. We don't. Today, China is on top of investment in Nigeria, especially in the energy sector. The Foreign Corrupt Practice Act of 1977 is making it legally problematic for American companies and investors to compete for large contract with the Chinese in developing countries. The trial and indictment of Halliburton is a good example. And we shouldn't forget the KBR saga and the no-bid contract involving former Vice President, Dick Cheney. Again, what the rest of the World and Nigerians do know is that China has similar law (FCPA), but they don't apply it overseas to police their citizens from engaging in official bribery. Yes, there is bribery in Nigeria; that it exist is not an issue any more. We should be talking about how to overcome it.