/ 14 June 1999

NIGERIA LEADS WORLD GRAFT

NIGERIA leads while Kenya ranks fifth among 23 countries where bribery is rampant worldwide, a report by an anti-corruption body says. According to the Berlin-based Transparency International, Denmark is last on the list. The report, ‘1998 corruption perception index’, says that in 1996 and 1997, the World Bank and IMF fund set precedents in delaying loans to Afghanistan, Kenya, Nigeria, Cambodia, Paupa New Guinea, Congo and Sudan over concerns that corruption is diverting funds and subverting the purpose of the loans. Contained in the 1999 London and New York based World Watch Institute Index, the report adds that the prevalence of corruption appears to deter foreign investment.