AN ANALYSIS OF THE EFFORTS OF THE ECONOMIC AND FINANCIAL CRIMES COMMISSION ON OFFICIAL CORRUPTION IN NIGERIA

Abstract

The incidence of corruption in Nigeria has assumed a disturbing dimension. Corrupt behaviour from bureaucratic impropriety to a large scale looting of the public funds by political office holders has, over the years, impacted negatively on the socio-economic and political transformation of the country. This paper assessed the causes of corruption and the growing trend of massive looting and fraud in spite of the efforts of the EFCC. The paper relied heavily on secondary data sourced from the EFCC site on the internet, books, journals and reports containing issues bordering on corruption in Nigeria. The growing trend and management of corruption in Nigeria is viewed within the context of the prismatic theory in the study of a transitional society. It was discovered that the commission is operationally equipped and readily disposed to intercept cases of financial crimes and bring to book the perpetrators. However, the fight cannot be effectively conclusive with the nature of justice administration and procedure in Nigeria. It is also discovered that the manner in which cases of embezzlement were currently handled by the Nigerian courts is itself breeding corruption. It is again noticed that the commission is limited for lack of prosecuting powers and therefore can only make a little impact in combating corruption. The paper therefore recommended for a tougher and harder measures including capital punishment (china option). Complete ban from public office and confiscation of all property belonging to the culprits. There is need for Economic and Financial Crime tribunal to be presided over by a group of specialised anti- graft judges to handle such cases within a limited time frame after investigation.