ABSTRACT
This study comprehensively investigates the intricate and pervasive impact of corruption on Nigeria's political and economic systems, with a particular emphasis on its effects on Foreign Direct Investment (FDI). Corruption, a deeply rooted issue in Nigeria, manifests through various forms such as bribery, embezzlement, nepotism, and vote-buying, severely undermining democratic governance and institutional integrity. This research delves into the historical context of corruption, tracing its evolution from the colonial era to its current state, and explores how these corrupt practices have become institutionalized, affecting every level of government and society. The economic implications of corruption are profound and multifaceted. The study reveals that corruption increases the cost of doing business, creates market distortions, and erodes investor confidence. The study reviews various anti-corruption efforts and policy responses implemented by Nigeria over the years. Key initiatives include the establishment of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), alongside legal and regulatory reforms like the Public Procurement Act and the Nigerian Extractive Industries Transparency Initiative (NEITI). The study proposes several recommendations to enhance Nigeria's anti-corruption efforts and create a more conducive environment for FDI. These recommendations include strengthening anticorruption agencies, ensuring their independence and adequate funding, enhancing legal frameworks, promoting transparency and accountability through digital technologies, fostering international collaboration, and engaging civil society. Furthermore, the study emphasizes the need for continuous reforms and capacity building to ensure sustained progress in combating corruption. In conclusion, this study underscores the critical need for comprehensive and sustained anti-corruption measures to mitigate the adverse effects of corruption on Nigeria's political and economic systems and to attract meaningful FDI.
