Challenges in the Era of Globalization - iaabd

Proceedings of the 12th Annual Conference © 2011 IAABD
Recruitment Style Challenge
One of the banes of public sector accounting in Nigeria is the recruitment of totally unsuitable
candidates in preference to candidates of high merit. This undermines efficiency and performance.
As Fubara pointed out, Directors and Chief Executives appointed by government most times have
neither corporate nor professional competence accordingly. Irekponor and Tamunukubie (2010)
observed that recent studies on human capital from Scandinavian countries, Buleh et al (2001),
Johnson et al (2001), and Mouritsen et al (2001, 2002), continue to confirm the growing presence
of intellectual capital thinking. Ordonez de Pablo (2003) on the Spanish experience supports the
similar wave of thought. If an individual lacks previous experience, or has no background, he
should be formally trained and tested before allowed to work. The deployment of an individual to a
task for which he is most qualified is an essential factor for efficiency.
Challenge of Education
Lack of education on the part of citizens will hinders effective political awareness and
consciousness, enlightenment, mobilization and activation as essential ingredients for control and
management of oil revenue in Nigeria. No country can hope to place itself on the path of a stable
economic progress, sustainable development and greatness without enhanced access to education.
Despite the resourcefulness of Nigerian people, a significant proportion of the citizens are
illiterates. Oruwari (1996) observed that in 1990, “only about 10% of Nigerian women are literate.”
Illiteracy inhibits the effective participation of people in democracy, economic, civic, social and
technological spheres. Education of the people on what obtains in the oil and gas industry would
serve to open the eyes of the people on what really exists and what they can expect, when and how.
Challenge of Poverty
Kalagbor (2007), Anikpo (1995), notes that poverty is a historical process of eliminating people
from decision making machinery. It is manifested in hunger, lack of money, shelter, poor education
etc. In Nigeria it is used to pervert participation in oil revenue management against the populace.
African governments need to develop prudent fiscal policies that can enable governments to invest
oil revenues heavily in education, infrastructure and the maintenance of a broad array of social
services. Such is the case of most Nordic countries: Finland, Sweden, Denmark and Norway which
rank among the relatively least corrupt in the world.
Advanced Powers Influence
A number of initiatives have to be launched in an attempt to deal with Africa's resource curse
before the continent is further fragmented and its precious natural wealth more exploited. Charities
and NGOs believe that governments that are of OECD members are reluctant to investigate
allegations of corruption or complicity in human rights abuses against Western companies. In
Equatorial Guinea where US companies such as ExxonMobil and Chevron are active, the regime in
power has been accused of torture, electoral fraud, and corruption. In the face of this, President
Nguema was welcomed at the US State Department by Secretary of State Condoleezza Rice in
April 2006 and described as a "good friend."
Weak and Unreliable Judiciary
Writing on Judiciary’s Dubious Role, Ajaero reveals frivolous court orders and other surreptitious
moves in the top echelon of the Nigerian judiciary. According to him this cast doubts on the
impartiality role of the judiciary in the ongoing electoral process. That the judiciary considered as
the hope for strengthening democracy in Nigeria is releasing wrong signals especially in the face up
between Justice Aloysius Katsina-Alu, chief justice of Nigeria and Justice Isa Ayo Salami,
president of the Court of Appeal. Newswatch February 21, 2011 p11, explains that a letter dated
February 4, 2011 addressed to the CJN; Justice Salami accused the move to promote him by the
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