Tackle Corruption to Foster Good Governance, Expert Tells Govt

By Faith Oparaugo
THE Head of Transparency and Anti-corruption Initiative of UN Global Compact, Ms Olajobi Makinwa has tasked government and private sector operators to promote anti-corruption measures and to implement policies that will establish systems of good governance.
Basically, she pointed out that this would underscore anti-corruption and good governance as fundamental pillars of sustainable and inclusive global economy.
Speaking at a media interaction with the officials recently in Lagos, Makinwa said that a good system of governance is a key enabling factor in maintaining a fair and supportive environment for business activity and for establishing incentives for corporate sustainability.
According to her, corruption has been considered as a costly impact on private sector as it raises transaction costs, undermines fair competition, distorts development priorities, and impedes long-term foreign and domestic investment.
She urged businesses to work against corruption in all its forms, including extortion and bribery. Since December 2010, the Nigerian Local Network has engaged its business participants and other stakeholders in the anti-corruption collective action project in Nigeria.
Makinwa also called on government to fully implement and enforce the tenets of the UN Convention against corruption by strengthening anti-corruption policies, laws and enforcement mechanisms to create a level playing field and incentivize good behavior.
She added that government should make a commitment to reduce corruption risks from procurement and contract processes of large-scale projects that are designed to support sustainable development, commit to engaging in competitive and transparent procurement processes through public advertising of all government procurement cases.
"Corruption is the single greatest obstacle to economic and social development around the world. It has adverse impacts on sustainable development, with a disproportional impact on poor communities", she said.
She noted that to prevent future development efforts from being undermined by corruption, it is critical to leverage good governance and anti-corruption into the global development agenda.

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