ASSESSMENT OF THE VIABILITY OF ECONOMIC&FINANCIAL CRIMES

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AN ASSESSMENT OF THE VIABILITY OF ECONOMIC AND FINANCIAL CRIMES COMMISSION EFCC IN COMBINING CORRUPTION IN NIGERIA IMPLICATIONS FOR IMPROVEMENT

Despite the pervasive corruption in Nigeria, which led to the underdevelopment of its institutions and economy. There still some impediments on its effective administration and tackling of these menace. Which the economic and financial crimes commission (EFCC) is established to tackle it. The research work attempt to examine the viability of economic and financial crimes commission in combating corruption in Nigeria and implications for improvement as its scope, the research work was prompted by some major problems affecting economic and financial crimes commission in Nigeria such as poor administration corruption, political interference, etc, the objective is to evaluate the viability of economic and financial crimes commission on the elimination of corruption in Nigeria, identify significant measures taken by the economic and financial crimes commission in combating corruption in Nigeria and implication for improvement. The study employed the survey method and data was obtained from primary source using questions, the analyses were based on simple percentages and the hypothesis were analyzed using chi-square, the findings revealed that the activities of economic and

financial crimes commission (EFCC) have significantly reduce the rate of corruption in Nigeria. The study concluded that corruption will be reduced if economic and financial crimes commission is made effectively and efficiently in its activities. The study recommended that the economic and financial crimes commission from the executive, promptly prosecution of perpetrator of corrupt practices, adequate finding, independence of the judiciary should be available in addressing the issue of corruption in Nigeria.

Corruption is one of the oldest and most perplexing phenomenon that exist in every human society. It is the most dangerous social ills of any society. This is because, corruption like a deadly virus, attacks  the vital structures that make for society’s progressive functioning thus putting its very existences into serious peril. It will take a novice to deny that corruption is by far the greatest problem of governance in Nigeria. Hardly a day passes by in Nigeria without the subject being discussed as the greatest obstacle to the socio-economic development. Between 1980 and 2005, Nigeria almost became a pariah nation in the global community. Many nations, especially among the most highly industrialized ones, tried to severe socio-economic, financial, cultural and political ties with Nigeria. Some of them even treated some Nigerians in their domains with sheer contempt and gross disrespect as well as high suspicion. Their common expressed reason is not far- fetched, it is corruption.

AN ASSESSMENT OF THE VIABILITY OF ECONOMIC AND FINANCIAL CRIMES COMMISSION EFCC IN COMBINING CORRUPTION IN NIGERIA IMPLICATIONS FOR IMPROVEMENT

AN ASSESSMENT OF THE VIABILITY OF ECONOMIC AND FINANCIAL CRIMES COMMISSION EFCC IN COMBINING CORRUPTION IN NIGERIA IMPLICATIONS FOR IMPROVEMENT




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