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THE IMPACT
OF WAR AGAINST CORRUPTION TO THE ECONOMY OF NIGERIA (A CASE STUDY OF EFCC)
CHAPTER ONE
INTRODICTION
1.1
BACKGROUND OF THE STUDY
Corruption
is conscious attempt to secure wealth, power and misuse of public power through
illicit means to satisfy a selfish interest at public expense. Corruption like
insects has lived with human society for a very long time and has remaineda
major problem in many of the world’s developing economies with harmful
consequences.Corruption as a popular event and a severe challenge facing every
country.It exists and functions in different degrees in various countries. It
is not only found in democratic and dictatorial politics, but also in feudal,
capitalist and socialist economies. The practice of corruption is not an issue
that just begins today; but the history is as old as the world.
Corruption
is a critical issue in Nigeria. President MuhammaduBuhari launched an
anti-corruption drive after taking office in May, 2015. Corruption affects the
public finances, business investment and also the standard of living. Presently,
corruption scandals have pointed out the large amounts that have been stolen by
people of different calibers in the country and outside the country. But little
if not nothing, has been done to carefully investigate the vigorouseffects of
corruption that affect the countries capacity to achieve its potentials in the
long run.
The
dishonesty, conversion, diversion and theft of peoples funds and resources, has
done more harm than good in the country, leaving us (Nigerians) with a bad
reputation and a negative perception of being a mistrusted and dysfunctional
country. This fact have been seen to be beyond human understandingthat Nigeria,
the giant of Africa, the world’s largest exporter of crude oil and a country
with numerous natural resources till date has 70 percent of its population
living below the poverty line, as an outcome of corruption and economic
mismanagement. Majority of Nigerians appear to have no other choice than to
approve and accept corruption as a conventional way of life; it is now like the
food that nourishes the body in the country. Irrespective of the hardship
begotten by corruption and mismanagement of the nation’s resources, the
relationship between corruption and underdevelopment is infrequently made by
the citizenry and this makes the suspended hangingwar against corruption more
difficult to tackle. Corruption is a very disgusting violation of citizens’
human rights and needs to be looked into as such. Calls have been made for a
completely look into the judicial system; enactment of very strict, productive
laws and the reinvestment of proceeds recovered from corrupt individuals in the
development of much needed infrastructure to foster the nation’s economy. It is
obvious that public officials need to be promoted to a higher level of
accountability and the infliction of punitive measures that providedeterrence
need to become strict in the system.
The Economic
and Financial Crimes Commission (EFCC) is known to be one of the most
acknowledged anti-corruption agencies in Nigeria in charge of fighting and
reducing the high rate of political corruption and financial crimes in Nigeria.
In recent times, their activities and performance have aroused the people’s
curiosity and also heightened endless debate and intellectual disputes on whether
they have actually carried out their duties or not based on the achievement of
their statutory mandate since their creation. For this reason, there is no
agreement among scholars and commentators on the performance of EFCC when it
comes to fighting corruption (war against corruption).
In Nigeria
today, it is one of the numerous unresolved problems that have
significantlyslowed the movement and skewed development. This still stands to
be a long-term major political and economic problem for Nigeria. It will
continue to eat the fabric of the nation if not properly taken care of. It
starts with little corruption and matures into political / bureaucratic
corruption or Systemic corruption. World Bank studies put corruption at over $1
trillion per year accounting for up to 12% of the Gross Domestic Product of
nations like Nigeria, Kenya and Venezuela (Nwabuzor, 2005). Corruption is
growing rapidly; it is an enemy within. It is a canker worm that has eaten deep
in the fabric of the country and had stunted growth in all sectors (Economic
and Financial Crime Commission (EFCC), 2005). It is the main reason behind the
countries inability to develop fast. This is evident in Transparency
International’s has consistent rating of Nigeria as one of the top three most
corrupt countries in the world (Ribadu, 2003). Nigeria has therefore fallen
back on asevere pursuit of economic improvementdue to the willingness to fight
corruption and strengthen the nation’s economy.
1.2.
Statement of the general problem
Corruption
is the major challenge facing the Nigerian Economy, and its menacing
ancillaries such as graft, nepotism, embezzlement, looting, abuse of office,
etc. These factors have stunned the economic growth and development of the
country. In order to curb the menace cause by corruption in Nigeria, former President
of Nigeria, Chief Olusegun Obasanjo, in 2002, in an attempt to declare total
war on corruption instituted the Economic and Financial Crime Commission (EFCC.
Abumere, quoted in Ezeani and Elekwa (2006:339), recollected that President
Obasanjo had declared in his inaugural speech on May 29, 1999 that “corruption,
the greatest bane of our society today will be tackled head on at all levels
and there will be no sacred cows; nobody, no matter who and where, will be
allowed to get away with the perpetuation of corruption”. Unfortunately,
corruption is pervasive in Nigeria and has been institutionalized such that not
only that, officials are corrupt, but corruption is official (Clark, 1995:125).
Corruption has taken different forms and shapes in Nigeria such as endemic
planned and developmental corruption (1991:47), to comment with obvious
impatience that these forms of corruption, notably; endemic, planned and
developmental corruption is a classic vicious circle capable of destroying
Nigeria completely. However, the effect of corruption in any given society can
never be overemphasized, especially as in the case of the contemporary Nigeria.
1.3. Aims
and objectives of the study
The major
aim of the study is to examine the impact of the war against corruption on the
economy of Nigeria. Other specific objectives of the study include;
To examine
the level of corruption in Nigeria.
To determine
the relationship between corruption and the economic development in Nigeria.
To determine
the ways of improving the fight against corruption in Nigeria.
To examine
the level of success of the fight against corruption in Nigeria.
To recommend
better ways by the EFCC in fighting corruption.
1.4.
Research Questions
What is the
impact of the war against corruption on the economy of Nigeria?
What is the
relationship between corruption and the economic development in Nigeria?
What are the
ways of improving the fight against corruption in Nigeria?
What is the
level of success of the fight against corruption in Nigeria?
1.5. Research
Hypotheses
H0: The war
against corruption does not influence the economy of Nigeria.
H1: The war
against corruption influences the economy of Nigeria.
H0:
Corruption does not impede the economic development of Nigeria.
H1:
Corruption impedes the economic development of Nigeria.
1.6.
Significance of the study
The study
would be beneficial to the Nigerian government in strengthening the war against
corruption as it would reveal the implications of the war against corruption in
Nigeria. The study would also be of immense benefit to students, researchers
and scholars who are interested in developing a further research on the subject
matter.
1.7. Scope
of the study
The study is
restricted to the impact of the war against corruption on the economy of
Nigeria having a case study on the economic and financial crimes commission
(EFCC).
1.8.
RESEARCH METHOD
The method
to be employed by the researcher will be helpful in extracting the necessary
information for the study.
Sources of
information shall consist of
Primary
source of information which will consist of information gathered from questions
answered by the respondents were administered by with questionnaire to give
responses in relation to the research topic.
The secondary
source however will extract relevant information gathered in various available
literature materials that are closely related to the topic of research. The
relevant information will be extracted from journals, textbooks, newspapers and
relevant speech papers that effectively discuss related issues to the combating
of corruption in Nigeria especially as spear headed by the economic and
financial crimes commission in Nigeria.
Other
sources of information shall be based on the researcher’s personal knowledge
and information accumulated over the years.
1.9.
Operational definition of terms
EFCC:
Economic and financial crimes corruption.
ICPC:
independent corrupt practices commission
CORRUPTION:
dishonest or illegal behavior especially by powerful people (such as government
officials or police officers)
ECONOMY: the
process or system by which goods and services are produced, sold, and bought in
a country or region
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