Transparency International

• The NACC's Secretary-General, Mr. Niwatchai Kasemmongkol, emphasized that the regulatory framework established in 2020 includes criminal penalties for such offenses.
• The code aims to prevent the masking of bribes as gratuities, a practice that is identified as a seedbed for bribery and corruption, posing significant hurdles to national development and contravening legal standards.
• This warning aligns with the stance of Transparency International (TI), which categorizes bribery as a form of corruption that must be eradicated.
• The National Anti-Corruption Commission (NACC) is a constitutional independent organization supervised by nine commissioners selected from various professions.

• The latest Corruption Perceptions Index – an annual survey from Transparency International that tracks how corrupt governments are perceived to be – shows Australia still has a way to go on this front.
• Australia came in at 14th place with a score of 75 out of 100, which is the same score as last year.
• In 2012, Australia had ranked an impressive seventh in the world with a score of 85.

The anti-corruption commission is just the first step

• Using rigorous methodology, the index compiles independent assessments of a country’s efforts to prevent and control corruption by business leaders and experts.
• The National Anti-Corruption Commission, for example, is not the magic bullet that alone will restore Australia’s good standing on the global stage.
• While it’s important to investigate these allegations of wrongdoing, the National Anti-Corruption Commission cannot stop every bad policy or practice.
• Promoting integrity is bigger than the National Anti-Corruption Commission.

Election financing and whisteblower reforms

• While the National Anti-Corruption Commission is a first step, we still need to implement reforms on election financing, foreign bribery and anti-money laundering regulations, and protections for whistleblowers.
• However, there is more the commission should be able to do if the government makes the appropriate policy decisions on election reform.
• Three areas need attention: 1) We need limits on campaign financing and better regulation of political donations.

Adam Graycar has received funding from the Australian Research Council. He is a member of Transparency International.

• Persistently high inflation, elevated interest rates, and a slumping and volatile Zimbabwe dollar have combined to fuel a cost of living crisis for households and battered business activity.
• These will be among the key economic concerns weighing on Zimbabweans as they prepare to cast their votes at elections scheduled for late August.
• President Emmerson Mnangagwa is campaigning to secure a second mandate that will extend his five-year term in power.
• Additionally, the high pace of price growth has outpaced nominal wage growth, leaving many people struggling to afford everyday essentials.

Governance vulnerabilities

• Governance broadly refers to institutions used to exercise authority by the government.
• Long-running weaknesses in fiscal and central bank governance institutions have undermined the capacity of the government to effectively formulate and implement sound fiscal and monetary policies for many years.
• This was done without fixing vulnerabilities in fiscal and monetary governance that had eventually led to the demise of the Zimbabwe dollar in 2009.
• Because of these vulnerabilities, inflation skyrocketed to 255% in 2019 – a 23-fold increase from a year earlier as money supply growth quickened from 28% to 250% amid a widening government budget deficit which topped 10% of GDP in 2017.
• The US dollar is also seen as a haven which has taken on greater importance as inflation remains stubbornly high.

Weaknesses in governance breed corruption

• Weaknesses in governance also create opportunities for higher levels of government corruption, which can lead to public spending waste, inefficiencies and lower revenue collection.
• In 2022, Transparency International ranked Zimbabwe 157 out of 180 countries based on perceived levels of public sector corruption, where the lower the rank the higher the perceived corruption.

A path forward

Zimbabwe’s economy is facing a confluence of challenges: inflation that won’t go away, higher interest rates and a sliding currency. The fallout has included a cost of living crisis, slowing business activity and fewer jobs. These problems are symptoms of deeply embedded structural weaknesses in the economy. The following reforms are crucial for addressing these structural weaknesses:
In addition, good fiscal governance positively affects central bank governance by reducing the need for central bank financing, which allows a reduction in inflation.

• The 109 senators and 360 representatives were elected on 25 February 2023.
• Godswill Akpabio was elected Senate president and Tajudeen Abass House of Representatives speaker.
• In Nigeria, the power of the National Assembly’s two houses to legislate is enshrined in section 4 of the 1999 constitution.

Issues deserving attention

• I think the National Assembly should focus on the following issues for the next four years: the economy; power supply; infrastructure; and security.
• The recent removal of the fuel subsidy will make it harder for people to make a living and survive.
• Thus, a legislative agenda to redeem the national economy is imperative..

  Read more:
  Nigeria's economy: four priorities president-elect Bola Tinubu must deliver on

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• Power supply Second, meaningful economic policies and programmes require a regular power supply.
• Since 1999, an estimated N11 trillion (about US$14 billion) has reportedly been committed by successive governments to electricity supply.
• On top of this, a 40% electricity tariff hike is due to take off on 1 July.

The way forward

• Since the Fourth Republic began on 29 May 1999, Nigerians have been waiting in vain for the assembly to fulfil this role.
• Under President Olusegun Obasanjo’s government from 1999 to 2007, the National Assembly was unable to assert its relevance.
• When other institutions of the government fail in their responsibilities, the legislature cannot afford to fail its principal, the people.