Deputy ACC chief says cost of corruption equals 5% of global GDP
March 16, 2017 By Ibrahim Tarawallie
Deputy Commissioner of the Anti-Corruption Commission (ACC) has noted that certain estimates have shown that the cost of corruption equals about 5% of the Gross domestic Product (GDP) globally, which is about $2.6trillion.
Shollay Davies was speaking yesterday at Santano House in Freetown during a debating competition organised by the ACC on relevant topics of the ‘Pay No Bribe’ Campaign for students in tertiary institutions.
Debaters from Fourah Bay College, Institute of Publication Administration and Management (IPAM), University of Sierra Leone, Government Technical Institute and the Milton Margai College of Education, Science and Technology (MMCET) argued on topics ranging from; “Lecturers or Students: Who bear the greater responsibility in tackling bribery in Sierra Leone and the “PNB Campaign minimizes bribery in the Universities/Colleges”, among others.
At the end of a tense debate, Gbatundu N. Kutubu from FBC emerged as the winner after defeating Osman S. Swaray of MMCET in the final by 81 points to 68, receiving Le500, 000 from the ACC.
According to Mr. Davies, a World Bank report revealed that over $1trillion was being paid as bribe each year, and that a stalking revelation while browsing the internet, was that corruption was costing Africa about $50bilion a year through illicit financial frauds.
“This is no longer a question about ethics. The world cannot afford such wastage of resources. Empirical studies conducted by the World Bank consistently demonstrate that the poor pay the highest percentage of their income on bribes. It is a challenge for us,” he stated.
In Sierra Leone, the Deputy ACC Commissioner opined that corruption poses a threat and presents danger for the educational system in the country as a whole, because it has affected every facet of the system.
Earlier, Deputy Director of Public Education and Outreach Department, Patrick Sandi, said the concept of corruption would always provide an opportunity for discourse and debate.
He maintained that the ‘Pay No Bribe’ campaign is interested in getting views from several quarters, including the academia on the ways in dealing with bribery in service delivery institutions.
He explained that the debate, which involved Accounting Now Clubs in universities and colleges, was to enable students to participate in the campaign by sharing views and brainstorming as to how members of the public would be educated on the topics.
“Accountability Now Clubs are a replication of Integrity Clubs in secondary schools, targeting the young in the corruption fight,” he said.