The Role of EFCC in the Fight against Political Corruption in Nigeria
Corruption is a persistent cancerous phenomenon which bedevils Nigeria. It has been acknowledged in many quarters that corruption is Nigeria’s worst problem and is largely responsible for its woes, such as the instability in the Niger Delta, the debt overhang, barriers to democratic elections, and impediment to flow of foreign direct investment. As in many African states, corruption is a malaise that infects the society. Corruption drains from African countries over $140 billion per year. Corruption deters investment because it is a disincentive to potential investors; it distorts public expenditure, increases the overheads for running businesses, and diverts resources from poor to rich countries. However, the EFCC was created against the backdrop of previous failed schemes to combat corruption and the need to repair Nigeria’s image to attract foreign investment. The EFCC as an investigative and prosecutory agency has made some inroads in the fight against corruption among public officers. By investigating and prosecuting corrupt public officials accused of corruption and publishing an advisory list of corrupt and unfit candidates, the EFCC hopes to deter Nigerians from engaging in corrupt activities.
Keywords: EFCC, Corruption and Nigeria
HOW TO CITE
Eze Chidinma Esther (2023).The Role of EFCC in the Fight against Political Corruption in Nigeria. IAA Journal of Management,10(1):14-19.