Corruption is endemic in Nigeria and presents serious challenges and risks to the development and future of the country. Corruption in the public sector has been on a grand scale, with embezzlement and diversion of public funds its most common forms. Studies suggest that public funds of between US$300 and US$400 billion have been lost to corruption since Nigeria became independent in 1960.    

The cost of corruption to the country’s growth and development has been enormous. It has created weak government institutions and structures, and undermined democracy and good governance, by subverting the rule of law, reducing accountability and corrupting elections. Corruption has distorted provision of government services and presents an unacceptable burden for people who are already struggling to afford basic necessities like putting food on the table or accessing medical care. The legitimacy of government has been undermined, thus eroding public trust in government. In addition, corruption also has indirect and non-monetary costs for the poor that are difficult to define, identify and quantify.