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The designation "politically exposed person" dates back to the late 1990s, in what was known as the "Abacha Affair." [citation needed] Sani Abacha was a Nigerian dictator who organized a large-scale, systematic theft of assets from the Central Bank of Nigeria for some years with his family members and associates. It is believed that several ...
Corruption in Nigeria is a constant phenomenon. In 2012, Nigeria was estimated to have lost over $400 billion to corruption since its independence. [2] [3] Nigerian politicians find themselves in a strong position of power and wealth due to their connections with the oil and gas industries in Nigeria.
Politically exposed person; Pyrrhic defeat theory ... Political corruption is the use of powers by ... More than $400 billion was stolen from the treasury by Nigeria ...
World-Check [1] is a database of politically exposed persons (PEPs) and 'heightened risk' individuals and organizations. World Check formed part of the Thomson Reuters Risk Management Solutions suite before being transferred to Refinitiv after a merger deal with The Blackstone Group in October 2018.
In political terms, this is called graft, which is when a political officeholder unlawfully uses public funds for personal purposes. Nepotism is the practice or inclination to favor a group or person who is a relative when giving promotions, jobs, raises, and other benefits to employees. This is often based on the concept of familism, which is ...
State capture is a type of systemic political corruption in which private interests significantly influence a state's decision-making processes to their own advantage.. The term was first used by the World Bank in 2000 to describe certain Central Asian countries making the transition from Soviet communism, where small corrupt groups used their influence over government officials to appropriate ...
Jaafar Nimeiry overthrew the government in 1969, and banned all political parties. He was overthrown by a coup d'état in 1985, and a new government was formed by Abdel Rahman Swar al-Dahab. He legalized political parties, but they were banned again after Omar al-Bashir overthrew the government. [75] [76]
In politics, a revolving door can refer to two distinct phenomena.. Primarily, it denotes a situation wherein personnel move between roles as legislators or regulators in the public sector, and as employees or lobbyists of industries (affected by state legislation and regulations) in the private sector.