The impact of embezzlement of funds to development: A Case study Buea municipality

ABSTRACT

     This study examines the impact of embezzlement of funds to the development of Buea municipality.

Specifically, it seeks to investigate and describe the different types of embezzlement practiced in the Buea municipality and to examine the impact of embezzlement of funds to the development of Buea municipality. Financial irregularity is a severe problem of concern globally. It is the major concern to developing nations. Buea municipality is faced with a lot of embezzlement that hinders its development, as stated in so many annual review report this has caused internal politics etc. the above complaints are indications that things are not going smoothly in government offices. This study was set out to identify the nature of embezzlement of public funds to the development of Buea municipality, also to examine the impacts of embezzlement of public funds to the development of Buea municipality, to evaluate the factors that enhance better lives of rural dwellers within Buea municipality. The Principal Agent Theory and Trait Theory of Leadership served as the theoretical framework of the study. This study employed the use of a mixed method approach through the help of a purposive sampling technique to be able to gather data for this study. Questionnaire and interview guide were administered randomly to both 20 to 60years and above of non-academic and academic staff of the Buea municipality. The impact of embezzlement of funds to the development of Buea municipality is high. Findings of the research revealed that, In Cameroon, there is complete absence of transparent and accountable leadership. A government is accountable when its leaders (both elected and appointed) are responsive to the demands of the governed. Respect for the rule of law and the governed. Respect for the rule of law and an independent judiciary constitute key mechanisms for enforcing accountability It is therefore recommended that the Establishment of a vibrant project monitoring team from the state to monitor the pace of development in the local government area should be put in place