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Business survival depends on corruption free society

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-LACC Boss, Nwabudike

The Executive Chairperson of the Liberia Anti-Corruption Commission or LACC, Cllr. Ndubuisi Nwabudike says the growth and survival of any business in Liberia depend on a society freed of corruption and other harmful practices.

“For us to witness massive progress in the growth, and survival of our businesses here, there is a need for us to have a clean society free from corruption”, he notes.

Cllr. Nwabudike made the observation Wednesday, December, 2, 2020, at the Corina Hotel in Sinkor, Monrovia during program marking the observance of International Anti-Corruption Day.

The event, conducted under the auspices of the LACC, in partnership with the Center for Transparency and Accountability or CENTAL with support from the Swedish government was held under the theme: Reducing Corruption in the private sector as a Drive to enhancing Economic Development and Good Governance.”

In opening remarks, the LACC Boss said International Anti-Corruption Day is usually an occasion to highlight the danger that corruption poses to humanity and to encourage every citizen especially, officials of government to intensify efforts to minimize the act. This year our focus is the private sector, and the reason we selected the private sector is because corruption is fight [that] requires collaboration, he says.

According to him, it takes more people to get involved in the fight, saying, “this act is not only seeing in government, as recent study shows that anytime you identify corruption in the government establishment you move closely to becoming a private actor either by initiating it, benefiting or facilitating.”

“We’re organizing this day for the business community to join the LACC and her partners to identify the types of challenges they are facing and provide indication on how we can sensitize the private and the public sectors to reducing corruption.”

Delivering a special statement on behalf of Finance Minister, Deputy Finance and Development Planning Minister for Budget Ms. Tanneh G. Brunson applauded the LACC, and its partners for observing the International Anti-Corruption Day.

“The private sector is often a victim of some types of corruption and is often vocal against it, and at other times it is primarily a beneficiary, and drives corruption through links with bureaucrats and politicians”, the deputy minister added.

According to her, corruption is a global problem that requires global solutions, noting that the act disproportionately impacts the poor and most vulnerable, increasing cost and reduces access to critical services such as Healthcare, Education and Justice.

As we embark on a road to a more resilient and inclusive economy, policymakers face challenge of reactivating the economy in the context of huge fiscal stress compounded by the accumulation of large amounts of debt, Minister Brunson says, while stressing that the prudent use of scarce resources in a transparent manner is critical.

“Because of the systemic nature of corruption in our society, our strategy must be intentional because it has spread and is deeply embedded in public, private network, and it could be supported or organized by public sector.”

She however says there is a need for private sector to take on a greater role in self- regulating their own activities that would complement existing public regulation models, which she says would base on public institutions investigating and prosecuting public, and private sector officials.

This roundtable discussion provides an opportunity for the private sector to engage in a frank and open exchange on the measures available to prevent and respond to corruption, saying it’s our hope that discussion will look at various national and international ant-corruption instrument regulating the business environment and their impact on measures and tools to improve integrity and transparency in the private sector, she adds.

The International Anti-Corruption Day celebration was a daylong event characterized by panel discussion involving key institutions of government, including LACC, GC, LBR MFDP, MOC, PPCC, LRA, NIC, GAC and private integrity institutions here.

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