Implication of Financial Corruption on Socio-Economic Development in Ebonyi State Local Government System

Abstract

This study Financial Corruption: and socio--Economic Development in Ebonyi State Local
Government System was designed to explore the implication of corrupt practices at the local
government level towards effective socio-economic development of the hinterland. The broad
objective of the study is to explore the effect of financial corruption became on the socioeconomic development in Ebonyi State local government system. Other objectives are to:
Ascertain the extent to which mismanagement of funds by council officials hinder human capital
development in the local government areas system. Unveil the extent to which embezzlement of
council funds by council officials hinder government’s efforts towards poverty reduction in the
local government system in Ebonyi State. Identify the implications of contract kick-backs on the
quality of service delivery in the local government system of Ebonyi State. The study adopted
descriptive survey research content analytical method. The researcher adopted state capture was
adopted as the theoretical framework of analysis. Findings revealed among others that financial
corruption which manifests in mismanagement of funds, looting, embezzlement, and contract
kickbacks perpetrated by council officials hinder human capital development, poverty reduction
of government, provision of healthcare facilities, and quality of service delivery in the hinterland.
The researcher recommends that management of local government fund should be in line with
the financial memoranda of the Nigeria local government system; stringent punishment should
be meted against those who loot public treasury among so as to achieve effective socio-economic
development in rural areas of Ebonyi State