Abstract
Infrastructure is one of the most substantial services that is necessary to put in place in order to boost the economy of the nation. The economy of Nigeria can be alleviated and speed up by the presence of good infrastructure. Fraudulent practice is a ruinous and composite practice openly acknowledged in Nigeria, even it continues to exists in all activities of the nation. The fraudulent acts has turn to be beneficial for both government and private parastatal while being problematic to the citizens of the nation without resort to solution out of this peril. This study is based on the impact of fraudulent practices on infrastructural development in Nigeria with impression of making meaningful suggestions for economy development. Fraud has affected a lot of infrastructural development in Nigeria such as power blackout, inadequate piped water, undependable healthcare services, unstable educational systems, bad roads that leads to traffic congestion, fuel scarcity, inadequate telecommunication services, poor irrigation and industrial water. The study proposed that, to efficaciously undertake these challenges and take rewards then all public office holders should always be monitored with a great sense of accountability through adequate checks and balances and government should encourage a culture of transparency through the publication of all expenditures and also the presence of whistle-blowing mechanisms will be an advantage if implemented in order to reduce fraud in all infrastructural sectors. The problems of fraudulent in all infrastructural sectors if it is not well tackled, could surely menace the chances of good economy development in Nigeria. Keywords: Accountability, Development, Economy, Fraudulent Practices, Infrastructure. DOI: 10.7176/JESD/12-6-08 Publication date: March 31 st 2021
Highlights
The rising incidence of fraudulent practices in Nigeria and the public service in particular and the poor state of infrastructure in the country has turned to issues of public concern
Many agencies have been established through modifying acts and reforms undertaken to combat fraudulent practice and development of infrastructure in Nigeria
In its bid to escalate the combat against fraudulent acts in infrastructural development, the Federal Government of Nigeria ordained laws and installed many institutions which include; the Independent Corrupt Practices and other Related Offences Commission (ICPC) Act 2000, the Economic and Financial Crimes Commission (EFCC) created by the EFFC Act 2004 and the Bureau of Public Procurement established through the Public Procurement Act, 2007
Summary
The rising incidence of fraudulent practices in Nigeria and the public service in particular and the poor state of infrastructure in the country has turned to issues of public concern. In its bid to escalate the combat against fraudulent acts in infrastructural development, the Federal Government of Nigeria ordained laws and installed many institutions which include; the Independent Corrupt Practices and other Related Offences Commission (ICPC) Act 2000, the Economic and Financial Crimes Commission (EFCC) created by the EFFC Act 2004 and the Bureau of Public Procurement established through the Public Procurement Act, 2007. Fraudulent practice/Fraud is one of the greatest obstacle precluding Nigeria from achieving its tremendous potential It has drained billions of dollars from the country economy, obstructs the social development of the nation and weakens the infrastructural development of the nation. This study assessed the impact of fraudulent practices on infrastructural development in Nigeria
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