The Economic and Financial Crimes Commission and Corruption Management in Nigeria: a Perceptual Assessment of its Legal Framework

Abstract

The menace of corruption and the fight against it the world wide has been a major preoccupation amongst pundits and administrators, especially amongst the third world countries. The existence of Anticorruption Agencies virtually in all countries of the world justifies this assertion. While some of these agencies in their countries of operations succeed others are still grabbling with the dynamics and complexities of the scourge thus looking for a durable methodology to curtail it spread. This paper assessed the perception of Nigerian on the strength of the EFCC against its functional responsibilities to determine the adequacy and appropriateness of the powers. The research is a survey type that explored both primary and secondary sources. The primary data were gathered through administration of questionnaire with a content analysis for the secondary data. Relying on Structural Functional theory, the study reveals among other things that, EFCC lacks adequate prosecutorial powers; it also cannot effectively ensure and monitor compliance to the limit of foreign currency transfer ($10000) and the local cash transaction limit; the court system in Nigeria has also frustrated the efforts of the commission in addition to the unruly behavior of some senior legal counsels who often connive with some judges to subvert justice. The paper therefore submits that the EFCC operate within unfavorable legal space that hinders to a large extent its operational success. It is therefore recommended inter alia: a specialized and separate court with specialized judges to handle financial crimes, streamlining the areas of responsibilities to just financial crimes for the EFCC.