Challenges in the Era of Globalization - iaabd

Challenges in the Era of Globalization
Edited by Emmanuel Obuah
CJN to Supreme Court as unholy. Justice Salami states that removing him as head of the Court of
Appeal, was in order to appoint a stooge that would do the CJN biddings with regards to April 2011
post election litigations. Tuesday February 8, Justice Salami sued Kaisina- Alu to the Federal High
Court Abuja over the ’unholy’ plan to elevate him to the Supreme Court.. In an affidavit Justice
Salami deposed and alleged that Katsina-Alu asked him to compromise the Court of Appeal’s
verdict in the protracted Sokoto governorship legal tussle by either disbanding the original panel
which may give verdict against Magatakardi Wamakko, governor of Sokoto State or to direct the
panel to give judgment in the Governor’s favor.
Conclusion
The expectation of improved well being by Nigeria is legitimate, considering the fact that petrodollars
can create powerful economic incentives for economic growth, social advancement and
poverty reduction. In Nigeria, corruption reigns supreme, the gulf between the rich and the poor is
extreme, essential infrastructure and amenities such as roads, electricity, education and healthcare
are in poor state and short supply. Often, pollution joins with poverty and barefaced corruption,
until resistance and rebellion spring up, often with the force of arms. Considering the fact that oil
revenues do not necessarily translate into benefits and enhanced livelihoods in the short term, it
rests on the government, non-governmental organizations end civil society groups to educate the
people on what obtains in the oil and gas industry. The education would serve to open the eyes of
the people on what really exists and what they can expect, when and how. Recruitment of
unqualified officials in government and the public sector and lack of independent working
environment for accounting officials is a serious constraint in management of oil revenue in
Nigeria. Factors of fraud, embezzlement, lack of external control and regular auditing procedures
are major constraints to management of oil revenue in Nigeria. Government do not put in place a
monitoring team that will examine every aspect of expenditure in the public service as to ensure its
adherence to budgetary provisions. Political leaders do not use substantial sanctions against
discrepancies to serve as deterrent to others. Constraints of fraud, bureaucratic rigidity and
conservatism, lack of accountability, recruitment and employment of unsuitable officials.
Implications
More radical reforms will be necessary if Nigeria and other African economies are to increase
productivity and stay globally competitive on strength of oil revenues. For successful oil revenue
management in Nigeria there is the need for transparent and accountable management of revenues
generated and oil companies could help stamp out corruption by publishing details of the fees,
royalties and other payments made to governments. Political leaders should strengthen the
supervision machinery in government and the public service. For effective oil revenue management
that will succor to the generality of the citizenry, the government should improve on the pay
package of public servants with an effective bonus scheme to ensure sanity, employee motivation
and also to curtail fraud in the system. There is need for comprehensive computerization of the
entire accounting system to allow for timely and reliable recording, analysis of data for effective
disseminating of information and for effective managerial decision. The recruitment of qualified
manpower and effective internal control are possible measure that can possibly eliminate
corruption or lack of accountability. Transparent governance is necessary. Improving transparency
lies in strengthening the accountability of decision-makers of host governments. This requires a
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