A United Nations report obtained by VOA says Somalia's transitional government is so deeply corrupt that it is essentially ruled by a popular Somali phrase – “What's in it for me?”

The U.N. Monitoring Group on Somalia and Eritrea suggests rampant theft of public funds is behind efforts by some political leaders to “hijack or derail” the ongoing transition process.

The mandate for the U.N.-backed government is due to end in August. Most of the government's funding comes from the U.N., United States and European Union.

The report says 70 percent of money donated never made it into public coffers in 2009 and 2010.

It says that in 2011, nearly one-quarter of all government expenditures were “absorbed” by the offices of the president , prime minister and parliament speaker .

The office of the prime minister rejected the allegations as “absolutely and demonstrably false.”