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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has revealed that numerous grants from the World Bank are tainted by corruption. Prof. Bolaji Owasanoye, the Chairman of the anti-corruption body, made this statement during a recent meeting with a delegation from the Economic and Organised Crime Office of Ghana.
Owasanoye, a Senior Advocate of Nigeria (SAN), expressed his belief that the political economy of the international ecosystem is not designed to facilitate progress in the fight against corruption for developing countries. He highlighted the challenges faced by countries like Nigeria, emphasizing how the debt dynamics and rules of engagement are structured against them.
He explained, “We have to understand as developing countries that the political economy of the international ecosystem is not designed for us to progress no matter how hard we try. It is enlightened self-interest. For example, Nigeria borrowed one billion dollars in 1978. As of 2006, when we had the write-off, Nigeria owed 32 billion dollars, and it is designed in that way because of their rules of engagement and dispute resolution. The system uses the IMF and the World Bank to exert pressure when a country tries to challenge the debt.”
The ICPC Chairman further pointed out that many World Bank grants are marred by corruption, but political considerations often prevent legal action against such cases. He stated, “How many countries have taken the World Bank to court? Don’t they have failed loans? Many of the loans granted by the World Bank are marred by corruption, but nobody has the courage to take legal action because such issues are usually politically determined.”
Expressing concern over the reliance on international surveys, Owasanoye highlighted the limitations of using perception surveys to compare experiences. He urged developing countries to create their own platforms and systems to ensure their voices are heard and not solely influenced by the outcomes of these reports.
He said, “In developing countries, we are driven by the outcomes and reports of international surveys. These surveys are not innocent, and it is naïve to think otherwise. If we do not establish a system where our voices are heard, where we express our own experiences and refuse to be swayed by the outcomes of these reports, we will continue to be apologetic.”
The ICPC Chairman also highlighted discrepancies in how corruption is assessed, particularly by organizations like Transparency International. He questioned the rankings that rate countries losing assets as more corrupt than those receiving stolen properties, emphasizing that both the thief and the receiver are equally guilty under common law. He stressed the importance of adopting a home-grown approach to combat corruption, conducting independent surveys, documenting findings, and publishing them to counter preconceived notions formed based on external indices.
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