NARCOKLEPTOCRACY – narco-: pertaining to narcotics or their trade and use, and kleptocracy: corrupt and dishonest government which steals from state coffers. Therefore, rule by drug lords. A system of government with an elite or dominant group of people whose wealth derives from the trade in illegal drugs and other organised criminal activities. Also see KLEPTOCRACY.
NEPOTISM – a form of favouritism based on acquaintances and familiar relationships whereby someone in an official position exploits his or her power and authority to provide a job or favour to a family member or friend, even though he or she may not be qualified or deserving. Nepotism can take place at all levels of the state, from low-level bureaucratic offices to national ministries. Many unrestricted presidents have tried to secure their positions by nominating family members to key political, economic and military/security posts in the state apparatus. Also see CLIENTELISM.
NOMINEE (DIRECTOR / OWNER / SHAREHOLDER, ETC) – this person acts as the legal manager, owner or shareholder of limited companies or assets, on behalf of the real manager, owner or shareholder of these entities. These nominees obscure the reality of who is really operating or benefiting from the company and are often used when the beneficial owners do not wish to disclose their identity or role in the company.
Professional nominees are paid a fee for their services but otherwise have no interest in the transactions. Nominees could also be family members or friends. Often, nominees pre-sign documentation, such as letters of resignation, which the beneficial owner can choose to effect at any time. See BENEFICIAL OWNERSHIP SECRECY.
NYOBA – this is an isiXhosa term for a bribe. To bribe a person is to ukunyoba.