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THE ROLE OF ECONOMIC AND FINANCIAL CRIME COMMISSION EFCC ON CORRUPTION AND ACCOUNTABILITY IN PUBLIC SERVICE 2015-2020


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Abstract

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 Role Of Economic And Financial Crime Commission on corruption and accountability in public service 2015-2020, 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 role of economic and financial crime commission in government accountability between 2015-2020, 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 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, and independence of the judiciary should be available in addressing the issue of corruption in Nigeria.

CHAPTER ONE

                                        INTRODUCTION

  • Background of the study

In July 2017, the National Bureau of Statistics (NBS), in partnership with the United Nations Office on Drugs and Crime (UNODC), published Corruption in Nigeria – Bribery: public experience and response. 3 Conducted in 2016, the survey detailed in that report is the first comprehensive nationwide household survey on corruption to be conducted in Nigeria and in Africa as a whole. It covered all the states in the Federal Republic of Nigeria, including the Federal Capital Territory. The report provided valuable and reliable information and complemented other efforts aimed at deploying the use of data and statistics to enhance understanding of the nature and magnitude of corruption in Nigeria. To measure if progress has been made in the fight against corruption since the 2016 survey, and to determine in which areas more needs to be done, the Government of Nigeria decided to carry out a second corruption survey in 2019, using the same methodology and coverage as in 2016. This report details the result of the second survey, with an emphasis on current corruption patterns and trends over the four year period from 2015 to 2020. In doing so, it effectively highlights areas of progress and areas that continue to present grave concerns. The implementation of the survey and work on the preparation of this report were made possible with the financial support of the Department for International Development (DFID) of the United Kingdom.  The main focus of the research study is the impact of EFCC in the public sectors accountability. Economic and financial crime commission is popularly known as EFCC. Crimes have been associated with man since his fall. Crime remain elusive and ever strives to hide itself in the most unlikely places. Our Country has been adjudged as corrupt. We are said to have been in “419” bug. Some people have tagged Nigeria a ‘financial terrorist’ Nation on account of the volume of financial crimes that emanate from Nigeria. This crime is becoming a culture in Nigeria both in private and public sectors. But the crime is more on public sector because power corrupt and absolute power corrupt absolutely. They are more engaged in crime because of immunity clause covering them. That is why the formal and first chairman of Economic and Financial Crime Commission [EFCC] [Ibrahim Magu] in his statement release by BBC news on Thursday, 28 September 2016 by 08:37 Nigeria time and GTM 09:37 UK that almost all of Nigeria’s State governors are being investigated for corruption, the anti-graft agency head said. Ibrahim Magu told the Nigeria Senate that 31 out of 36 State governors were being investigated and that 15 of them would be charged in the coming weeks.

He also said that the world biggest thief was Nigeria but was prevented from naming him. Critics of the president Muhammadu Buhari say that fight against corruption is being used as a political tool but Magu denies these charges. He said that Nigeria governors enjoy immunity from prosecution while in office and the Country is regularly ranked as one of the world most corrupt Countries .He added, “if we all live in the us, all of us will be in prison by now, because the things we do here cannot be tolerated there. By this statement, Magu is implying that all of us are corrupt but I personally did not believe in that. What I believe is that about 90% of us are corrupt. He rated then Zamfara State Governor [Sanithmed Yerima]” as the worst case of corruption because it was direct stealing, no third party.

So many other public servants have been tried and convicted. These men are the people we respect and call honorable. They walk and drive around the country in serene with the purpose of building the Nation, but the question is what good have they done or have in mind for this Country? The police man stopping for search, is he doing it for the love of our Country or is he doing it for the sake of his own satisfaction interest of extortion? Likewise, other public servants.

In our Country Nigeria, we have about 43,953 Lawyers call to bar, 707 high court and shariah court judges, 47 federal high court of justices, 46 court of appeal justices and 15 justices of the Supreme court of Nigerian. Nigeria spend about N350,000,000 annually on this people. Apart from that, many are being called to bar annually. Despite all these things, I am painfully aware of the fact that crime is increasing instead of decreasing. While we now have legislation to regulate the conduct of public sectors for corrupt practices, the vices are still very much with us. Bank frauds are in upsurge, abuse and manipulation are still the stock in trade of many banks. 419 still looms large, money laundry from corrupts proceeds is visible. It is this circumstances that us threatened to impose councilor measure on Nigeria in 2004. If she did nothing to update her looms and take pains to fund the perpetrators of economic and financial crimes.

Infact, it is for this reason and the international dimension which this crimes had assumed that the promulgation of the EFCC act 2012 becomes inevitable. The act which was reenacted in 2014 is revolutionary in many respects. For the first time, power of co-ordination and enforcement of varied but related economic and financial crime laws are vested in one body. The definition of economic and financial crimes in section 46 of the money laundry Act is all about encompassing. 2nd, because the nature of the crime handed by the commission is at the heart of the economy, all stakeholders like security agents, law enforcement agent and other financial regulators are members of the commission.3rd, apart from the offences created by the EFCC Act itself, the commission has responsibility of specifically enforce the provision of other principal laws ordering on economic and financial crimes which includes the following;

  1. The money laundry Act 2014
  2. The advanced fee fraud Act 2015
  3. Failed Bank [malpractice in bank Act 2011, as amended]
  4. The bank and other financial institution Act, 2016
  5. The miscellaneous offences Act 2015
  6. Any other law or regulation relating to economic and financial crimes including penal code and criminal code. [Section 7 of EFCC Act].

We can now see that it is not the law but its enforcement to make sure that they are adhered to. In other to do this, there must be men of integrity to see to it enforcement. This will help to reduce economic and financial crime in our Country (Nigeria) most especially in public sectors of the economy.

The issue of economic and financial crime is a national issue affecting our economy. In as much as there are is no accountability in public sector, our economy cannot grow because both local and Foreign investors are scared of investing in the Country

STATEMENT OF THE PROBLEM

A nation where financial and economic crimes are endemic cannot attain economic stability, growth and development. According to Irving Kristol’s (2O17), the problem is always far more important than devising a solution, for he who can define the problem has always exercised a large degree of intellectual sovereignty over the range of possible solutions that must be imagined. Nigeria being a country where corruption is pandemic has been rated both domestically and internationally as a corrupt nation. Public officials take huge bribes and the cost of public goods and services are inflated, government often pays for non-existent goods and services. Even when such corrupt practices are exposed, it has always been played to the gallery and sacrificed at the altar of backside bargaining. The corrupt practices that have characterized and painted the nation black include fraud, embezzlement, falsification of financial information, obtaining by false pretense, lack of transparency and accountability among others these evils have in no small measure negated economic stability, growth and development in our country. Experience has shown that both the public and private sectors have continued to suffer inefficiency and ineptness and that growth indices and graph are having a downward slope. This has brought the pertinent question are there adequate control measures and checks to stem this ugly tide (corruption)? Poor and insincere policy conception, formulation and implementation on economic and financial crimes in Nigeria have been responsible for the low achievement recorded in curbing and stamping out economic and financial crimes in the country. Hence, the emergence of the “Economic and financial crimes commission to enhance financial accountability and transparency in Nigeria.

1.3 OBJECTIVES OF THE STUDY

The major aim of this study is to assess the role of economic and financial crime commission EFCC on corruption and accountability in public service from 2015-2020. The specific objectives are:

  1. To examine the role of economic and financial crime commission in ensuring public service accountability.
  2. To examine if there is any significant relationship between EFCC procedures and public service accountability against corruption
  • To examine how effective EFCC contributions benefited Nigeria public and private sectors since her inception
  • To examine the contributions of EFCC in enhancing financial accountability and transparency

RESEARCH QUESTION

The following research questions were formulated by the researcher to aid the completion of the study;

  1. Does economic and financial crime commission play any role in ensuring public service accountability?
  2. Is there any significant relationship between EFCC procedures and public service accountability against corruption?
  • How effective EFCC is the contributions benefited Nigeria public and private sectors since her inception?
  • Is the contributions of EFCC adequate in enhancing financial accountability and transparency?

RESEARCH HYPOTHESES

The following research hypotheses were formulated by the researcher to aid the completion of the study;

H0: There is no significant relationship between EFCC procedures and public service accountability against corruption

H0: There is a significant relationship between EFCC procedures and public service accountability against corruption

H0: Economic and financial crime commission does not play any role in ensuring public service accountability

H2: Economic and financial crime commission does play a role in ensuring public service accountability

SIGNIFICANCE OF THE STUDY

The research work will be useful and moreover be a source of information to the followings

  • Government with this research work will be witty and aware of the extent the activities of EFCC has contributed in administration and controlling of fraud in Nigeria. It will also be of great significant in examining the area of weakness and how best to improve them for effective regulation of fraud.
  • To the academic, the research work will help them formulate more theories and strategies that will enhance the effectiveness of EFCC in ensuring financial accountability and transparency. It will also contribute to the enrichment of literature on EFCC and serve as a body of reserved knowledge to be referred to by researchers.
  • Public sector, by this we mean all government parastatals, institutions, ministries, corporations etc. FIUs work will expose them to the activities of EFCC.
  • Private sector: By this we mean individuals and corporate  bodies who have contributed their resources to provide goods and services to the public at a profit. They carry out their various activities which are expected to be done within the ambits of laws and legislations governing their operations. They include sole proprietorship, partnership, corporate organizations among others.

1.7 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers the role of economic and financial crime commission on corruption and accountability in public service from 2015-2020. But in the course of the study, there are some factors that limit the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study

b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.

  • DEFINITION OF TERMS
  • EFCC:
  • This is an acronym for Economic and Financial crimes commission. It is a commission created by an act of the National Assembly in 2002 and was amended in 2004. It is charged with the responsibility of investigating and enforcement of all laws against economic and financial crimes.
  • FRAUD:
  • The crime of deceiving somebody in order to collect money or goods illegally. It also means a person who pretends to have qualities and abilities, skills etc that he or she does not really have to deceive others.
  • It is an acronym for Nigeria Financial intelligent unit. It is an autonomous central national agency, domiciled within EFCC with responsibility of receiving and analyzing financial information.
  • INVESTIGATION:
  • This means a special kind of examination of accounts or records carried on by an investigator with the predefined purpose according to the necessity of the situation (Chike Nwoha 2003:33).
  • 8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study

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Author: SPROJECT NG