Economic and financial crimes commission, its policies and corruption in nigeria, 2003 to 2010

Project Abstract

The abstract of the research project is as follows This research project investigates the Economic and Financial Crimes Commission (EFCC) in Nigeria from the years 2003 to 2010, focusing on its policies and the issue of corruption within the country. The EFCC was established in 2003 with the mandate to investigate and prosecute economic and financial crimes such as corruption, money laundering, and fraud. The period from 2003 to 2010 was significant for Nigeria as it marked a time of heightened anti-corruption efforts by the government. Through a comprehensive review of existing literature, government reports, and data analysis, this research explores the effectiveness of the EFCC's policies in combating corruption during this period. It examines the challenges faced by the commission, including political interference, lack of resources, and institutional weaknesses. The research also assesses the impact of the EFCC's activities on reducing corruption and improving transparency in Nigeria. The findings of this study reveal that while the EFCC made significant strides in investigating and prosecuting economic and financial crimes, there were limitations to its effectiveness. Political interference and lack of independence were identified as major obstacles to the commission's success. Additionally, the EFCC faced challenges in securing convictions and recovering assets from corrupt individuals. Despite these challenges, the research highlights the importance of the EFCC's role in raising awareness about corruption and promoting accountability in Nigeria. The commission's efforts contributed to a greater emphasis on anti-corruption measures in the country and led to some high-profile prosecutions of corrupt officials. Overall, this research project provides valuable insights into the EFCC's policies and their impact on addressing corruption in Nigeria from 2003 to 2010. It underscores the need for continued efforts to strengthen the commission's independence, enhance its capacity, and address systemic issues that perpetuate corruption in the country. By understanding the successes and challenges faced by the EFCC during this period, policymakers and stakeholders can work towards more effective strategies to combat economic and financial crimes in Nigeria.

Project Overview

<p> </p><div><p>Corruption has remained a thorn on the flesh of Nigeria’s economic, political and, social life in spite of the concerted efforts made to curb the menace by different regimes. In 2002, the Obasanjo’s Regime enacted the Economic and Financial Crimes Commission’s (EFCC) Act, while the Agency commenced duties with its plans of actions (policies) in 2003. Still, corruption was on the increase. The situation raised our concern to carry out a research work to examine Economic and Financial Crimes in Nigeria between 2003 to 2010. This research work has two questions which are: (a) Did EFCC’s activities (policies) strengthen the fight against corruption between 2003 to 2010? (b) Did EFCC effectively succeed in reducing corruption between 2003 to 2010? The two hypotheses tested in this research work are: (a) Political interference in the EFCC’s activities weakened the fight against corruption between 2003 to 2010, (b) Political interference in the EFCC’s policies undermined the EFCC’s effectiveness in reducing corruption between 2003 to 2010. We adopted structural functionalism as our theoretical framework and, used observational technique and qualitative descriptive method as our methods of data collection and analysis respectively. The first hypothesis was tested in chapter three, under the sub-heading, Obasanjo’s Regime (1999-2007), and we found out that such cases as the N81 billion Identity Card scam, the uninvestigated N250, 000 credited into the accounts of the members of the National Assembly, the EI-Rufai’s Privatization scandal, the Julius Makanjuola’s case, the many private establishments owned by Obasanjo etc, which were not investigated by the EFCC due to Presidential involvement, interference and, fear of indictment confirmed our hypothesis that political interference in the EFCC’s activities weakened the fight against corruption. The second hypothesis was tested in chapter four which has the headingEFCC’s Policies, Performances and Challenges. Under which we found out that the poor position of Nigeria in the Transparency International Corruption Perception Index, the use of the EFCC to destroy enemies and protect associates etc, confirmed our hypothesis that political interference in the EFCC’s policies undermined the EFCC’s effectiveness in reducing corruption. We concluded that EFCC was established to serve the interests of the ‘powers that be’. And that the use of the EFCC to protect the interests of the ‘powers that be’ weakened the EFCC’s activities and, undermined the EFCC’s effectiveness in reducing corruption in Nigeria between 2003 to 2010. We proffered recommendations that, there is need to strengthen the independences of the EFCC and, empower complementary governmental agencies and civil society organizations so as to engender the feelings of ownership of the war. If the government and the EFCC would accept and implement these recommendations, they would enhance the Agency’s (EFCC) effectiveness and efficiency.</p><p></p></div><h3></h3><br> <br><p></p>