SOCIO-POLITICAL AND ECONOMIC IMPACTS OF CORRUPTION IN NIGERIA

Corruption is one of the oldest and most perplexing phenomenona in human society, political corruption exists in every country and it is not exclusively a problem of developing countries. Etymologically, the word corruption is derived from the Latin word “rumpere”, meaning to “break”. This connotes the breaking of normal or societal norms or practices. While the destructive nature of corruption is less contentious, the definition of what constitutes corruption tends to defile consensus among scholars and institutions. Corruption can be defined as the abuse of public office for private gain. Similarly, corruption can be defined as the abuse of public power for private gain. Corruption is behaviour which deviates from the formal duties of a public role (elective or appointive) because of private regarding (personal, close family, private clique) wealth or status gains; or violates rule against the exercising of certain private regarding influence. This study tends to examine socio-political and economic impacts of corruption in Nigeria