ICPC challenges World Bank, TI to hold countries receiving corruption proceeds accountable
By Joel Oladele, Abuja
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has faulted the corruption ranking issued by the World Bank and Transparency International, challenging the international organisations to hold accountable, countries receiving corruption proceeds.
Transparency International in its 2022 Corruption Perception Index released in January this year ranked Nigeria 150 among 180 countries.
The ICPC Chairman, Bolaji Owasanoye during a recent meeting with a delegation from the Economic and Organised Crime Office of Ghana noted that corruption associated with these grants often go unaddressed due to political considerations, thereby making it difficult to hold those responsible accountable.
He emphasised that developing countries face significant challenges within the international ecosystem, as it is not designed to facilitate their progress despite their best efforts.
“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 at 2006, when we had the write-off, Nigeria was owing $32 billion and it is designed in that way because of their rules of engagement and dispute resolution. The rule uses the IMF and the World Bank to whip you into line when you want to challenge the debt.
“How many countries have taken the World Bank to court? Does it not have failed loans? Many of the loans the World Bank grants are marred in corruption but nobody has the courage to take them to court because those issues are usually politically determined,” Owasanoye said.
He therefore suggested that the rules of engagement and dispute resolution employed by the IMF and the World Bank can hinder countries’ attempts to challenge their debt burdens.
Regarding the corruption perception of developing countries in international surveys, the ICPC Chairman cautioned against relying solely on such reports.
He noted that these surveys may not be impartial and argued for the creation of a platform where developing countries can voice their perspectives rather than being driven by the outcomes of external reports.
He criticised the use of perception surveys to compare experiences, highlighting the disparity between countries losing assets and those receiving stolen properties.
Owasanoye called for a more comprehensive approach that includes a home-grown survey to gather and publish data from the local context, providing a basis for informed discussions and challenging preconceived notions.
“In developing countries, we are driven by the outcomes and report of international surveys. International surveys are not innocent, and it is naive to think they are otherwise.
“If you do not create a system where your voice is heard, a kind of platform where you say your own and refuse to be driven by the outcome of those reports, you will continue to be apologetic,” he noted.
He also queried the ranking index adding that, “Is it not strange that Transparency International will rank countries that are losing assets as more corrupt than the countries receiving the stolen properties?”
The ICPC Chairman added that there is a need for developing countries to adopt a proactive and independent approach in addressing corruption issues.
