How graft at seaports fuels Nigeria’s poor rating on global corruption index — Business — The Guardian Nigeria News – Nigeria and World News

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Seaport

Stakeholders in the maritime sector have lamented how corruption in Nigeria’s seaports has marred the ease of doing business in the country as well as contributed to the nation’s low ranking in the Transparency International Corruption Perception Index (CPI).

They shared their disappointment on Wednesday at an engagement with freight forwarders on the Standard Operating Procedures (SOP) of cargo clearance at the nation’s ports.

Nigeria had in the latest Transparency International Corruption Perception Index (CPI), ranked 149 out of 180 countries, a record that is three steps lower than its rating in 2019.

According to data from Proshare, Nigeria loses up to $1.95 billion in government revenue and $8.15 billion in private sector revenue yearly due to corruption at the Nigerian ports.

Recall that the Executive Secretary of Nigerian Shippers’ Council, Hassan Bello, had last week disclosed that the agency recovered $20,000 bribe money from boarding officials at the…



Source: Guardian Newspaper