( CNN ) -- No-one has been awarded the world 's most valuable prize , the $ 5 million Ibrahim Prize for Achievement in African Leadership , which was due to be announced Monday . For the third time in six years , no African leader has been deemed worthy of the prize , awarded by Sudanese billionaire Mo Ibrahim 's foundation . `` The Prize Committee reviewed a number of eligible candidates but none met the criteria needed to win this Award . The Award is about excellence in leadership . '' the Mo Ibrahim Foundation Prize Committee said in a press release . The prize is a $ 5 million award paid over 10 years and $ 200,000 annually for life after that . It is awarded to democratically elected leaders who have stepped down in the past three years after serving their constitutionally mandated term , and have demonstrated `` excellence in office . '' Ibrahim , chairman and founder of the Mo Ibrahim Foundation , said : `` Since we launched the Prize six years ago , we have had three winners , and three years without . '' Last year 's winner was President Pedro Verona Pires of Cape Verde for his `` vision in transforming Cape Verde into a model of democracy , stability and increased prosperity . '' Other previous winners have been Joaquim Chissano of Mozambique in 2007 and Festus Mogae of Botswana in 2008 . Nelson Mandela was made the honorary inaugural Laureate in 2006 . In 2009 and 2010 there was no winner . See also : Mo Ibrahim warns Africa 's dictators . In a report on African governance released by the Mo Ibrahim Foundation Monday to coincide with the prize , Nigeria moved into the bottom 10 countries on the continent for governance for the first time . It was ranked 43rd out of 54 countries based on 88 indicators taking in factors such as human rights , rule of law , development , personal safety , participation in the political process , infrastructure , welfare , health and education . The Ibrahim Index of African Governance ( IIAG ) -- an annual study measuring accountability and good governance in 52 out of 54 African nations -- found four of the continent 's powerhouses , Nigeria , Kenya , Egypt and South Africa , have declined in quality of governance since 2006 . Abdoulie Janneh , former Executive Secretary of the UN Economic Commission for Africa and Board Member of the Mo Ibrahim Foundation said in a press release : `` Given the vast natural and human resources of these four regional powers , these governance results are a concern . `` Each of these countries plays a key role in the economic and political landscape of the continent . To continue to optimally play this role requires a sustained commitment to balanced and equitable governance . '' Nigeria , Kenya , Egypt and South Africa were all deemed to have deteriorated in their safety , rule of law , participation for citizens and human rights . Claims of corruption in Nigeria and Kenya have been common in recent years , with Transparency International ranking the two countries 143 and 154 respectively out of 183 nations for corruption . See also : Shaping Africa 's tech revolution . South Africa and Kenya meanwhile also registered a drop in sustainable economic opportunity . The report uses data from 2000 to 2011 and does not take into account changes in Egypt , Libya and Tunisia since the Arab Spring . The report 's authors used data from hundreds of sources but said a lack of data had hindered it . Ibrahim said in a press release : `` Good governance is about harnessing a country 's resources to achieve the results any citizen living in the 21st century has a right to expect . One of Africa 's biggest leadership and governance challenges going forward is to master its own robust statistical system . Political sovereignty begins with data autonomy . '' The report said there was an overarching trend towards more inclusive and representative leadership since 2000 , with improvements in 11 out of 14 of its subcategories . Significant improvements in the rule of law were registered in the formerly war-torn nations of Liberia and Sierra Leone , while Angola , Guinea and Liberia made major strides in human rights . Other countries to record strong performances in areas such as human development and sustainable economic performance included Rwanda , Mauritius and Zambia . Tanzania has climbed the IIAG 's rankings over the past six years , making it into the top 10 for the first time . Across the continent the study noted particularly high improvements in gender equality in all regions bar west Africa . Mary Robinson , former president of Ireland and Board Member of the Mo Ibrahim Foundation said , `` Africa 's women have the capacity to bring about remarkable change and therefore equity and equality between men and women is in the strategic interests of African leaders and governments . '' See also : Africa grows but youth gets left behind . Earlier this month , the foundation awarded Archbishop Desmond Tutu a one-off $ 1 million special prize for his lifelong commitment towards `` speaking truth to power , '' -- a trait emphasized throughout South African apartheid and more recently in his call for Tony Blair and George W. Bush to `` made to answer '' at the International Criminal Court for their role in the Iraq war . Which African leaders do you think are worthy of the prize ? Tell us in the comments below .
No winner of this year 's `` The Prize Committee in South African Leadership . It is the 43rd time in six years that $ $ 5 million prize has not been awarded . Nigeria drops into bottom One African countries for governance , report finds .