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EFFECT OF ECONOMIC AND FINANCIAL CRIME COMMISSION (EFCC) IN CURBING MONEY LAUNDERING AND FINANCIAL CRIME IN NIGERIA
This study assessed the effects of Economic and Financial Crime Commission (EFCC) in curbing money laundering and financial crime in Nigeria. The study specifically examine the extent to which various anticorruption agencies of various administrations have been used to curbed the menace of corruption; evaluate the methods applied by EFCC in curbing corruption and enumerate the contributions of EFCC in enhancing financial accountability and transparency. The study employed survey research method in order to obtain opinion of the entire population and simple random sampling technique was used to select ninety five (95)
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respondents among member of staffs of EFCC in Lagos State. The instrument used for the purpose of the study was a questionnaire designed by the researcher and the data collected were analyzed through the use of percentage frequency counts and regression method. The study found that methods applied by EFCC have significant effect in curbing money laundering in Nigeria and recommended that the EFCC should imbibe the attitude of objectivity to assure Nigerians that no one is above or below the law as the commission continues to enjoy the support of majority of Nigerians.
Keywords: Fraud, Financial malpractices, Financial crime, Money laundering, Nigeria