Kleptocracy in Nigeria
| DOI | https://doi.org/10.1108/JFC-08-2016-0053 |
| Pages | 57-69 |
| Date | 02 January 2018 |
| Published date | 02 January 2018 |
| Author | Vasudev Das |
| Subject Matter | Accounting & Finance,Financial risk/company failure,Financial crime |
Kleptocracy in Nigeria
Vasudev Das
Department of Management & Technology, Walden University, Minneapolis,
Minnesota, USA
Abstract
Purpose –The purpose of this study is to sonographically explore kleptocracy in Nigeria’s nascent
democracy and evaluate how democracycan mitigate kleptocratic behavior amongst Nigerian politicalelite
for a positive socialchange using sonic therapeutic intervention lens.
Design/methodology/approach –The author inductivelygenerated data through documentanalysis in
this qualitativestudy.
Findings –The results of the study showedthat kleptocracy has been an age-long politico-financial crime in
Nigeria. The author proffered sonic therapeutic intervention to simultaneously enhance democratic values
and mitigatekleptocracy among the Nigerian leaders.
Research limitations/implications –The limitationsof the study stemmed from the fact that it cannot
be generalized.
Practical implications –The practical implications of the study stemmedfrom the fact that any leader
can take advantage of the research findings and apply the recommendations to themselves for personal
transformationwithout incurring any costs.
Social implications –The social implication of the study is rooted in the fact that if the Nigerian
leadershipimplement the recommendation(s) of the study, there will be a positive socialchange in the country
inasmuchas financial crime will be mitigated.
Originality/value –The originality of the studystemmed from the fact that this inquiry filled the gap in
financialcrime literature and there was no such study ever conductedin the discipline.
Keywords Nigeria, Democracy, Kleptocracy, Sonic therapeutic intervention
Paper type Conceptual paper
Introduction
Nigeria’s nascent democracyhas had a great deal of muscle flexing with kleptomaniacs with
the prime objective to enshrinepolitics of social sanity to meet intergenerational needs of the
citizenry for a sustainable development(Adamu and Rasheed, 2016;Muhammad and Gado,
2015;Kwaghe, 2015;Adeola, 2014;Folarin, 2014;Austine et al., 2013;Bamidele et al.,2013;
Oluwaniyi, 2011;Wilson and Ikunga, 2013;Agbor, 2012;Ebohon and Emmanuel, 2012;
Olagunju, 2012;Otusanya et al., 2015). However, the attempted crackdown on thievery in
governance has not been easy in Nigeria, andone reason is that corruption is discernibly a
cancerous political malady that has eaten deep into the bone marrow of the Nigerian
political elite. In other words, kleptocracy, or government by thieves, has been an age-long
problem in Nigeria’s polity(Austine et al., 2013;Bamidele et al., 2013;Oluwaniyi, 2011).
Nigeria’s kleptocratic sovereignty peaked during the despotic military regime of late
General Sani Abacha when a loot of 64 billion naira, equivalent to US$64m, was recovered
from his “warehouse”at Abuja in Nigeria.The recovery of the loot was sequel to a customs
check conducted by Abacha’s successor –the retired General Abdulsalami Abubukar’s
administration that took over the reins of power after the sudden demise of General Sani
Abacha. Sani Abacha hasbeen rated as the fourth most corrupt ruler in global history.More
than a few Nigerians are imbued with cheating proclivity, and therefore, Nigeria was
Kleptocracy in
Nigeria
57
Journalof Financial Crime
Vol.25 No. 1, 2018
pp. 57-69
© Emerald Publishing Limited
1359-0790
DOI 10.1108/JFC-08-2016-0053
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