Corruption thrives more in private sector -Don

The attention of Nigerian governments and the public have been drawn to the  corrupt practices going in the private sector in the country.
 This was made by a lecturer in the Department of Political Science, University of Ibadan, Dr David Enweremadu, in a lecture entitled: “Corruption and corporate governance in Nigeria,” delivered at the Conference Centre, University of Ibadan on Friday, to mark the 2011/2012 multi-disciplinary seminar series of the Department of Psychology, Faculty of  Social Science, University of Ibadan.
Dr Enweremadu said before now, focus has been on the high level of corruption going on in the public service, but now,    this practice also thrives in the private sector.
He said “the aim of the lecture is to turn our attention to corrupt practices going on in the private world. For many years, it has been assumed that the private sector is rationally corrupt free, efficient and effective as we teach our students. But we have had alarming cases of  corruption  in the private sector, especially, the banking sector, yet not much academic or schorlaly attention has been paid to this.”
Enweremadu noted that reasons for this might not be unconnected with lack of transparency in the operations of private companies.
The political scientist, however, suggested that both government and individuals needed to take action to reinforce transparency and accountability in the private sector.
He said the same fund with which the private companies operate which was considered as private money were capitals raised through public bidding-sale of shares, saying, these funds also belong to the public.
In her remarks, the Head of Department of Psychology, Professor Helen Osinowo, commended Dr Enweremadu for his brilliance and urge the concerned authorities to take action.

Source: http://tribune.com.ng/news2013/en/news/item/14944-corruption-thrives-more-in-private-sector-don.html