Introduction Corruption is one of the big problems in various developing countries that are rich in oil. It has been considered to be pervasive and an important element of resource curse. Corruption has always been extreme in Angola and Nigeria and billions of US dollars have been disappearing. Most of the disappearing billions are from kickbacks, and this has led to the concentration of the wealth into few hands. Since the countries are endowed with resources, they are said to suffer from the resource curse. Angola is considered to be the second oil produce after Nigeria. Angola receives a lot of money from various oil companies in the form of signature bonuses that are received before the signing of contracts. The oil wealth has been to line and oil the wallets of the elite and political class within the society. Unbridled corruption is the norm in the oil economies. In Angola, the aid agencies have estimated that billions of dollars have been lost in royalty payments through corruption. Corruption and Bribery in the Oil Sector A lot of oil revenues have disappeared from government coffers according to the reports by the Human Rights Watch and Global Witness. There has been evidence according to studies undertaken in France and Switzerland about the bribes that are given to the president of Angola Eduardo Dos Santos, and it is by no coincidence that he is the Richest Angolan. Corruption is the main bane of the Nigerian development, and this has eroded the benefits of oil wealth. Corruption is endemic in the Nigerian economy with oil serving to distort the oil structure. The Nigerian domestic refineries have been laid into waste due to the rampant cases of mismanagement and corruption. It is by no coincidence that Nigeria is ranked as the third most corrupt country in the world. The corruption in Nigeria is manifested in various media sources and tribunals that have been established to investigate some cases of financial impropriety on the government officials (Jerome, Adjibolosoo & Busari, 2005, p. 4). The oil industry in the African continent, particularly in the largest oil producers like Angola and Nigeria is the centre of corruption and there is a need to introduce transparency in the management of oil resources. This is illustrated in Angola and Nigeria where billions of shillings cannot be accounted for. Oil wealth is unable to translate to economic development within these countries. Government official have been enriching themselves by diverting oil money and revenue as well as taking of bribes. This was illustrated in Switzerland when a judge froze several accounts that had millions of dollars which was used by foreign businessmen to bribe Angolans. A trial in Paris of three business executives’ demonstrated that Total Final Elf spent a lot of money in bribes. Halliburton, a US oil services company has openly admitted bribing tax officials in Nigeria (Kochan & Goodyear, 2011, p. 103). Angola and Nigeria are the largest oil producers in the sub-Saharan Africa, and their economy is highly dependent on oil exports. Despite oil generating a lot of revenues, the two countries and its population still languish in poverty. 63 percent of the Angolan revenue and 40 percent of the Nigerian revenue come from oil. From the turn of the century there have been a lot of efforts to try to gain access to the oil deposits of Nigeria and Angola, this global competition was intensified by the deep water technology introduced between 2004 and 2008. There is a need for Nigeria and Angola to invest the huge oil deposits in order to enhance the standard of living for their populati