Corruption in Nigeria Part 2
History and Cases Pre-Independence and the First Republic Corruption, though prevalent, was kept at manageable levels during the First Republic. [9][10] However, the cases of corruption during the period were sometimes clouded by political infighting. Azikiwe was the first major political figure investigated for questionable practices. In 1944, a firm belonging to Azikiwe and family bought a Bank in Lagos . The bank was procured to strengthen local control of the financial industry. Albeit, a report about transactions carried out by the bank showed though Azikiwe had resigned as chairman of the bank, the current chairman was an agent of his. The report wrote that most of the paid-up capital of the African Continental Bank were from the Eastern Regional Financial Corporation. In western Nigeria, politician Adegoke Adelabu was investigated following charges of political corruption leveled against him by the opposition. The report led to demand for his resignation as district co...