Conduit Mentality and the Economy: The Nigerian Experience
S. Samuel, Ogunbiyi
Department of Finance and Banking, Faculty of Management Science, University of Port Harcourt, Port Harcourt, Nigeria.
G. Tunde, Monogbe *
Department of Finance and Banking, Faculty of Management Science, University of Port Harcourt, Port Harcourt, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
The study is about conduit mentality and the Nigerian economy. Conduit mentality was proxied by annual values of aggregate illicit funds, then the economy was proxied by Educational level (EDU), Standard of living and Health in Nigeria over the period of 1996 to 2018. The research design is expost facto, for our analysis, we used the Autoregressive Distributed Lag Method of regression Analysis. Our result showed that, as expected, the relationship that exists between the dependent and independent variables are negative. We discovered that corruption as proxied by illicit funds is a serious issue in Nigeria and must be tackled if we intend to develop our economy as desired.
Keywords: Conduit, mentality, illicit funds, corruption