ABSTRACT
Corruption is a complex and persistent cancerous global phenomenon, which bedevils Nigeria. In Nigeria, corruption in the form of misappropriation, embezzlement, money laundering, bribery, nepotism and political corruption by public officials have permeated the fabric of the society. Major political parties’ office seekers top the list of corrupt officials. Elected officials of high echelon and public officers use their position of authority to actively engage in corrupt activities in a bid to enrich themselves. Nigeria for years has been at the bottom of German based Transparency International (TI) ranking. It is estimated that corruption accounts for more than 20 percent of the Gross Domestic Product of Nigeria. Although successive regimes in Nigeria had established various anti-corruption bodies to curb corruption, all failed to yield positive results. This necessitated the establishment of Economic and Financial Crimes Commission (EFCC) in 2003 by the Obasanjo administration, to investigate and prosecute Cases of Corruption and Financial Crimes. The little impact which the EFCC had been able to achieve is criticized based on the fact that the arrest and prosecution seemed to be selective, and discriminatory. This study will review the various activities of the commission, the successes and failures, and the way forward. The study will also review political economy of corruption, types and forms of corruption, causes of corruption and scope of corruption in Nigeria and make recommendations for a corrupt free Nigeria.
| Transparency International [2005] “Transparency Global Barometer” |