De-escalation strategies for kleptocracy in Nigeria’s oil sector
| DOI | https://doi.org/10.1108/JFC-03-2020-0036 |
| Published date | 22 May 2020 |
| Date | 22 May 2020 |
| Pages | 821-834 |
| Author | Vasudev Das |
| Subject Matter | Accounting & Finance,Financial risk/company failure,Financial crime |
De-escalation strategies for
kleptocracy in Nigeria’s oil sector
Vasudev Das
Department of Management and Technology, Walden University, Minneapolis,
Minnesota, USA
Abstract
Purpose –The purpose of this qualitative case study is to explore strategies for the de-escalation of
kleptocracyin Nigeria’s oil and gas industry.
Design/methodology/approach –The author used a qualitativecase study to facilitate the generation
of data from eightresearch participants in semi-structuredopen-ended interviews.
Findings –The themes that emerged from analysis of interview transcriptions were high self-control,
traditionalAfrican oath of office, whistleblowing, stiffer penaltiesfor corrupt officials, education and training,
self-regulationand sonic therapeutic intervention.
Research limitations/implications –Interviewees might withhold information regarding their
insightson strategies for de-escalating kleptocracy.That was beyond my control.
Practical implications –The study results provided leaders with insightful comprehension of anti-
kleptocracy policy in the oiland gas industry. Therefore, leaders would benefit and advance theirdecision-
making process on the development and implementation of an anti-kleptocracy strategy to revamp the
financialvalue of the oil and gas industry in Nigeria.
Social implications –The results of thestudy have the potential to contribute to positive socialchange by
enlightening governmentleaders and anti-corruption agencies on strategies to de-escalate kleptocracyin the
oil and gas industry.
Originality/value –The study’s uniquenessenabled filling the gap in financial crime literature as well as
an added valueto the applied management and decision sciences domain.
Keywords Nigeria, Sonic therapeutic intervention, Oil and gas industry,
De-escalation strategies for kleptocracy, High self-control, Traditional African oath of office
Paper type Case study
Opening statement
Escalation of kleptocracy resultedin Nigeria’s loss of about $42bn through crude oil theft as
well as domestic and refined petroleum products between 2009 and 2018 (Udoh, 2019).
Nigerian kleptocrats in the oil sector and their accomplices have driven the citizenry to the
brink of economic disaster. Although oil contributes only 14.4% to gross domestic product
(GDP), the oil and gas industry’s contribution is a major source of national income,
accounting for 80% of its revenue and 96% of its foreign exchange earnings (Center for
Petroleum, Energy Economics and Law, 2015;State University of Michigan, 2018). The
purpose of this qualitative case study is to explore strategies for the de-escalation of
kleptocracy in Nigeria’soil and gas industry.
Background of the study
Nigeria’s oil and gas industry commencedits operations in 1956 when the first oil well was
discovered at Oloibiri, BayelsaState, Nigeria; and the pioneering firm was the Shell-British
Petroleum Group (Center for Petroleum, Energy Economics and Law, 2015). Although oil
De-escalation
strategies for
kleptocracy
821
Journalof Financial Crime
Vol.27 No. 3, 2020
pp. 821-834
© Emerald Publishing Limited
1359-0790
DOI 10.1108/JFC-03-2020-0036
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