Strengthening Institutions in the Fight Against Corruption and Financial Crimes in Nigeria

Abstract

The twin concept of corruption and financial crime are obstacles of development in both developed and developing countries. The institutions of government especially the Nigerian Police and its related agencies like Customs, Immigration, Independent Corrupt Practices and other Related Offences Commission (ICPC) and Economic and Financial Crime Commission (EFCC) etc. must be strengthened to be able to tackle corruption and financial crimes. Other institutions that deserve attention to effectively fight corruption and financial crimes are banks, Civil Service, courts (judiciary), civil society, banks and the general public have varying roles to play in the fight against corruption and financial crimes in Nigeria. It should be noted that there exist technological improvements in fight against corruption and financial crimes. All these must be deployed to fight it to a stand still and possibly eliminate it from Nigerian social, cultural and behavioural fabrics and ensure development in the nation. Covered in this discourse are meaning of corruption and financial crimes, causes and effects of same and finally solution and recommendation on how to strengthen institutions to fight corruption and financial crimes in Nigeria.