Effectiveness Of International Anti-corruption Regulations: Towards Achieving A Common Standard

The paper examines the effectiveness of international anti-corruption laws in curbing transnational corruption. The motivation behind international anti-corruption regulations was to bring about a free fair competition in a liberalised market where all participants are subjected to a common standard. In examining the effectiveness of this measure, the paper questions whether a common standard has indeed been internationalised in light of the global perception of corruption in the world market today.

The paper submits and addresses two factors for the ineffectiveness of international anti-corruption laws in achieving common business standard. First, there is procedural disparity amongst state that ensures that application of anti-bribery laws is more effective in curbing corruption in one state than the other. Similarly is the inadequacy of the criminal sanctioning framework that seems outpaced with the development of transnational corruption. The paper calls for harmonisation of enforcement and sanctioning framework amongst states in other to consolidate on any gains made in the combat against corruption and bring about a common business standard. It argues for the adoption of expansive basis of adjudicatory jurisdiction through the effect doctrine in the enforcement the anti-corruption bribery laws. It further calls for a four-verdict criminal sanctioning system using Nigeria criminal system as a case study.

The paper is of value as it examines the common standard goal aimed by the international ant-corruption framework, proposes how to achieve the standard, and lays a novel groundwork in the development of criminal sanctioning framework in curbing corruption. It is hope that subsequent literatures will develop on the four verdicts system explored in this paper as a pre-emptive criminal sanction as suppose the raft of literature focussing on civil sanctioning route.