Submit your papersSubmit Now
For Enquiries: [email protected]
IIARD LogoIIARD
📄 Download Paper

Institutions of State and Economic and Financial Crimes in Nigeria: A Study of the Economic and Financial Crimes Commission (EFCC) (2019-2024)

Enyeribe, Justice Junior, Lucky Nwaoburu PhD

Abstract

The Economic and Financial Crimes Commission is an institution of the Nigerian state for combating economic and financial crimes. It was created as an instrument of state to detect, prevent, and prosecute economic and financial crimes, it has often been criticized for being used as a political tool, with allegations of selective prosecution, media trials, and politically motivated arrests. This study examined the role of the EFCC and its effectiveness in combating economic and financial crimes in Nigeria from 2019 to 2024. Three theories were adopted for the study which included the Institutional Theory, Deterrence Theory, and Principal-Agent Theory. Rivers State was chosen as area of study due to its political, economic, and regional significance in Nigeria’s fight against crime and corruption. A sample size of 364 respondents was selected using purposive and stratified random sampling techniques. Two primary instruments for data collection were employed, a structured questionnaire designed with both open-ended and close-ended questions and Semi-structured interview questions developed. Data were collected from respondents were treated and analysed using Arithmetic Mean of 2.50 as the cut-off point for each questionnaire item. The t-test was used to analyse the hypothesis. The finding revealed that the EFCC performed critical anti-corruption functions, including investigation, prosecution, law enforcement, and recovery of stolen assets but are being hampered by weak legal instruments and political interference. The study recommended among others that Government should strengthen the legal framework guiding EFCC operations to ensure independence in investigations, prosecutions, and administrative decisions.

References

Adegoke, O., & Ajayi, M. (2022). Combating economic crime in Nigeria: An assessment of EFCC’s recent operations. Journal of African Governance and Public Policy, 9(1), 44- 59. Akinola, B., & Ojo, T. (2021). Reforming anti-corruption agencies in Nigeria: The role of the EFCC and ICPC. African Journal of Legal Studies, 13(2), 97-112. Bello, R., Adamu, J., & Maina, E. (2023). Institutional reforms and the fight against corruption in Nigeria. Journal of Public Administration and Social Welfare Research, 5(3), 51–67. Eze, C., & Nwosu, K. (2021). Institutional corruption and the Nigerian state: A study of EFCC’s legal framework. International Journal of Public Administration, 46(3), 215– 229. Ibrahim, S., & Mohammed, A. (2019). Selective justice and the anti-corruption war in Nigeria. Nigerian Journal of Social and Political Studies, 14(1), 78–95. Imhanlahimi, A. A., & Ajiteru, E. F. (2023). Concept of Crime in the Administration of Penal Justice in Nigeria: An Appraisal. Nnamdi Azikiwe University Journal of International Law and Jurisprudence, 9(1). Nwachukwu, C. (2020). Public trust and the fight against corruption in Nigeria: A critical analysis of EFCC’s strategies. Contemporary Governance Review, 5(2), 110–128. Okoye, E., & Gbegi, D. (2020). Evaluating the effectiveness of Nigeria’s anti-corruption agencies. African Journal of Accounting and Finance Research, 15(4), 321–339. Okoye, I. & Odozi, P. (2021). The Politics of Anti-Corruption in Nigeria: A Case Study of EFCC. Journal of Governance and Public Policy, 9(2), 112-128. Onuoha, J., & Ugwueze, M. (2019). State institutions and anti-corruption efforts in Nigeria: Challenges for the EFCC. Law and Policy Review, 12(3), 81–98. Sánchez-Aguayo, E., Urquiza-Aguiar, L., & Estrada-Jiménez, J. (2021). Fraud detection in financial systems using artificial intelligence: A comprehensive review. Computers & Security, 105, 102246.

More Articles from INTERNATIONAL JOURNAL OF SOCIAL SCIENCES AND MANAGEMENT RESEARCH

Building National Analytics Capacity: Advances and Future Pathways

Author: Uchechi Mary-Linda Unamma, Ifeanyichukwu Jeffrey Okwesa, Uzoamaka Iwuanyanwu

Root-Cause and Thematic Analysis for Major Incident Management: A Review

Author: Ifeanyichukwu Jeffrey Okwesa, Uchechi Mary-Linda Unamma, Uzoamaka Iwuanyanwu

Data-Quality and Single-Source-Of-Truth Frameworks for Inter- Agency Reporting: A Review

Author: Uchechi Mary-Linda Unamma, Ifeanyichukwu Jeffrey Okwesa, Uzoamaka Iwuanyanwu

Human-In-The-Loop Decision Systems: Advances and Future Directions

Author: Funmilayo Ashore-Onisemo, Uchechi Mary-Linda Unamma, Ifeanyichukwu Jeffrey, Okwesa,

Roles of Oil Subsidy Removal on Transportation Cost and Water Factory in Cross River South, Nigeria

Author: Onwuzurike Peter Tobechi, Owoh Akwa Owoh, Unoh Grace Inyang, Umaru Musa