AN APPRAISAL OF THE ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC) IN NIGERIA 2002-2015

The failure of Nigeria to achieve a modicum of development has largely being blamed on corruption. Thus, corruption seems to be the bane of development of the country. Hence, efforts by the democratic administration of President Olusegun Obasanjo to curtail this menace informed the establishment of Economic and Financial Crimes Commission (EFCC) Act 2002. The focus of this study therefore, is on the critical appraisal of the Economic and Financial Crimes Commission (EFCC) in Nigeria from 2002–2015. Data were collected and analyzed using both qualitative and quantitative methods; the methods used in data collection included questionnaires and interviews from a sampled population of 360 respondents which were purposively selected from the study area using the sample size calculator formula. A Likert-type scale was used in designing the questionnaire for data collection. Data were analyzed using simple percentages, tables and figures. The Institutional theory was used as the theoretical framework of the study. It is the finding of the study that there is high level of government interference in the activities of the Commission. The political interference in the activities of the EFCC is based on the fact that it is a political creation and thus continues to pursue aims as dictated largely by the ruling political power in government. The net-result is that the agency has nearly lost public confidence in its ability to perform and to be impartial hence the constant accusation of the government in power using it for political witch-hunt. The study discovered that EFCC requires complete autonomy and a holistic review of the Act establishing the Commission. Empirical evidence from the study also illuminated the fact that the judiciary constitutes a major impediment to the Commission’s anti-corruption fight since inception. The study concludes that a committed anti-sleaze agency in the fight against corruption will not achieve the desired goals without genuine support of the government through exemplary demonstrations of absolute political will. The study therefore recommends amongst others, the need for government to demonstrate appropriate political will to bring corrupt persons, irrespective of their status and political leaning to justice. This will serve as deterrent to others and restore both national and international confidence in the anti-corruption campaign in Nigeria. Finally, caution must be taken in the application of the principle of plea bargain which is alien to the Nigeria legal system