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Business News of Thursday, 23 January 2020

Source: www.mynigeria.com

Nigeria ranks 146 out of 180 on the annual corruption Index

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Nigeria has attained the rank of 146 out of 180 countries in the annual corruption index which is published by Transparency International.

Nigeria became the 146th most corrupt country in the world after dropping two places as shown by the list released on Thursday.

The list released by Transparency International shows that "the index ranks 180 countries and territories by their perceived levels of public sector corruption, according to experts and business people.

"It uses a scale of zero to 100, where zero is highly corrupt and 100 is very clean. More than two-thirds of countries score below 50 on this year’s CPI, with an average score of just 43."

Nigeria scored 27 out of 100 points which is considered to be way below the global average of 43 in this year's Corruption Perceptions Index (CPI).

"This year's Corruption Perceptions Index (CPI) reveals that a majority of countries are showing little to no improvement in tackling corruption," Transparency International writes.

It adds: "Our analysis also shows corruption is more pervasive in countries where big money can flow freely into electoral campaigns and where governments listen only to the voices of wealthy or well-connected individuals."

The 2019 CPI shows that two-thirds of the countries scored below 50. This is 120 out of 280 countries.

Scoring highest is Denmark with 87 points while Somalia scored lowest with 9 points.

Western European countries scored highest with 66 points over 100 points, while Sub-Saharan African countries scored lowest with 32 over 100.