Riskology: Episode 31 – Nigeria: Turning The Tide Against Corruption with Soji Apampa
Is Nigeria turning the tide against corruption?
From reducing corruption cases in the Nigerian maritime sector dramatically, our guest Soji Apampa suggests that expert guidance can lead to substantial progress.
In our recent episode, we discussed the deep-rooted corruption in Nigeria: government warehouses filled with goods meant for the people being hoarded by politicians trying to resell. Shockingly, these very individuals are often protected by their communities despite their misdeeds.
This isn’t just a problem of governance but of societal tolerance. Inspired by an ambassador's dying wish, the quest against corruption became a lifelong mission for Soji, driving efforts to foster better governance in Nigeria
Soji shared a groundbreaking example from Nigeria where reported bribery cases in the maritime sector dropped from 266 in 2019 to just 45 last year. The financial burden on businesses visiting ports dropped from $150,000 to $20,000 on average.
He also emphasized the importance of understanding context to avoid pitfalls and shared some eye-opening stats: from 2019 to 2022, cases of unreceipted cash payments demanded by officials in the maritime sector dropped from 266 to 48. That's nearly an 82% decrease!
📌 He emphasizes the importance of having a reliable guide to navigate complex environments, especially in sectors riddled with corruption. This approach doesn't just reduce risks; it opens up previously inaccessible opportunities.
💡 Progress came from cooperation between big shipping companies, local private sector, civil society, and government—proving structure and clear standards reduce corruption and improve efficiency.
⚡ He emphasized the steep learning curve and potential pitfalls one can encounter without local guidance.
📌 Get a guide. The learning curve is steep, and no one can succeed alone.
✔ Who could be your guide to help navigate its complexities? ✔What's been your most valuable lesson from a mentor or guide? ✔How has having a mentor or guide helped you overcome business challenges?
Infortal’s Continuing Legal Education (CLE) courses are designed to equip executives, attorneys and risk managers with strategic insights to navigate the complex landscape of geopolitical risk. We cover topics such as international sanctions, regulatory risks, corporate espionage, AML, global warfare, anti-terrorist financing and corruption.
We can help you make informed decisions and mitigate potential risks for your business.
