TheCable reports that Mrs Iweala who is a senior advisor at the financial advisory and asset management firm, Lazard, was speaking at the Africa CEO forum on Monday.

She outlined the two ways corruption could be fought.

“We have to fight corruption in two ways; one is by punishing those who steal, and making sure they pay for what they do,” she said.

“But we also must plug all the holes by building institutions and systems that prevent corruption in the first place.

“If you have a financial system for running your financial accounts that is not computerized, that is not technologically based, you’re still transferring cash, as we were doing in my country up until 2003, 2004, then you’re opening up the place to a lot of people leaking