THE ROLE OF ICPC IN THE FIGHT AGAINST CORRUPTION IN NIGERIA

ABSTRACT

The study scrutinizes The Role of ICPC in the Fight Against Corruption in Nigeria using the Administration of President Buhari between 2015-2020 as a case study. In achieving this aim, the following specific objectives were laid out to examine the impact of The Role of ICPC in the Fight Against Corruption in Nigeria, look into the activities of the financial crime commission in Nigeria with respect to political affiliation, and investigate the extent of success made so far by the ICPC in their fight against corruption and financial crimes during Administration of President Buhari between 2015-2020. The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. A total of 150 (one hundred and fifty) respondents were selected for this study to represent the entire population of the study. For null hypotheses were formulated and tested using the one-way ANOVA and the t-test statistical tools at 0.05 level of significance. Primary data were collected from the primary source which questionnaire was used as an instrument of data collection while secondary data were sources from textbooks, journals, newspapers and the internet were employed. The data were presented on a frequency distribution table and analyzed using simple percentage, while hypothesis was tested using chi-square test. This study will be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work. This study contributes to knowledge and could serve as a guide for other study.

CHAPTER ONE

1.1 Introduction

This research has fared in reducing the incidence of corruption in Nigeria, in particular internet scam, bank fraud and bad governance, it first discuses the corruption situation in Nigeria by highlighting public office holders who have been associated with corruption charges. This was demonstrated by the establishment of two major anti-graft institution, the independent corrupt practices commission (ICPC) and the economic and financial crime commission. This development in turn facilitate stiff completion, ineffective internal control system, weak corporate governance, malpractice, among others, thus further providing easy avenue for money laundering and other financial crimes, to use the financial system to achieve their various objectives. The government through its financial arrow head, the CBN increased its tempo against the fight of financial crimes. It does this by putting in place a series of anti-money laundering and combating financing of terrorism measures to plug loopholes so as to ensure the continued safety and soundness of the financial system and determine all forms of financial crimes in Nigeria.

As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitations of the Study and Definition of technical terms.

1.2 Background of Study

In Nigeria, the upsurge in financial crimes could be party attributed to the liberalization of the financial sector in the late 1980's, which the resulted in a phenomenal leap in the number and complexities of banks and non bank financial institutions. This development in turn facilitates stiff competition, ineffective internal control system, Weak Corporation, governance, malpractice, among others, this further providing easy avenue for money laundering and other financial crimes, to use the financial system to achieve their various objectives. On the enthronement of democracy in Nigeria by may 29, 1999, under the leadership of president Olusegun Obasanjo, one cardinal programme of the Obasanjo administration is the fight against corruption and waste in the public service. This he demonstrated is the establishment of two major anti-graft institutions, the independent corrupt practices and other related offences) commission (ICPC) in the year 2000 and 2003 respectively. The government through its financial arrow head, the CBN increased its tempo against the fight of financial crimes.

This it does by putting in place a series of anti-money laundering (AML) and combating financing of terrorism (CFT) measures to plug loopholes so as to ensure the continued safety and soundness of the financial system and determine all forms of financial crimes in Nigeria (Adigun, 2005). The government target is zero tolerance for financial crimes and corruption. This is why it has pursued through promulgation of laws against graft such as independent commission practices (and other related offences) commission (ICVPC) Act, economic and financial crime commission (EFCC) Act, money laundering (prohibition) Act, 2004.

It has strengthened and keeps strengthening of anti- corruption and other economic crimes, institutions of due process mechanism in public sector procurement; Privatilization of failing public institution an creating and enabling environment for effective private, public sector partnerships, monthly publication of distributable revenue from federation account to the different tiers of government, institution fo transparencies in the oil and gas sector through the work of the extractive industries transparency initiatives (NEITI) among others.

Therefore, in Nigeria where the research was carried out, the activities that was conducted is to know the Role of ICPC in the Fight against Corruption in Nigeria using the Administration of President Buhari between 2015-2020 as a case study.

1.3 Statement of Problem

Investigation reveals the problems of the Role of ICPC in the Fight against Corruption in Nigeria research work, which are stated as follows:

Despite the struggle and move against financial crimes in Nigeria, there is still high incidence of financial crimes in the financial system.
The anti-financial crime commission seems to be a political weapon against political opponents; hence a change in such government weakens the strength of the commission.
There are individual who seems to be “untouchable” by the financial crime commission as a result of their political strength or affiliation with the chief boss in government.
There is weak approach in tackling crime justly and fairly by the commission.

1.4 Aim and Objectives of Study

The aim of the study is to scrutinize the Role of ICPC in the Fight against Corruption in Nigeria using the Administration of President Buhari between 2015-2020 as a case study. In achieving this aim, the following specific objectives were laid out as follows:

To examine the impact of the role of ICPC in the Fight against Corruption in Nigeria
To look into the activities of the financial crime commission in Nigeria with respect to political affiliation.
To investigate the extent of success made so far by the ICPC in their fight against corruption and financial crimes during Administration of President Buhari between 2015-2020.

1.5 Research Questions

The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:

What is the impact of the role of ICPC in the Fight against Corruption in Nigeria?
What are the activities of the financial crime commission in Nigeria with respect to political affiliation?
To what extent does the success made so far by the ICPC in their fight against corruption and financial crimes impact the Administration of President Buhari between 2015-2020?

1.6 Research Hypothesis

In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.

H0: ICPC fight against corruption and financial crimes does not enhance the Nigeria Economy during the Administration of President Buhari between 2015-2020
H1: ICPC fight against corruption and financial crimes enhances the Nigeria Economy during the Administration of President Buhari between 2015-2020

1.7 Significance of Study

The following are the relevance of the research work:

To help disclose the national for the birth of ICPC in Nigeria.
To be of importance to future researchers as a references guide to their work.
To be relevant to the researcher because it is a necessary condition for her receiving the award of Higher National Diploma (HND) in the Banking and Finance.
To be of relevance to any reader as it will help show the functions, objectives and relationship between ICPC.
To help look at the root cause of financial crimes in Nigeria and ways to fight it.

This study will be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work. This study contributes to knowledge and could serve as a guide for other study.

1.8 Scope of Study

The study focuses on the Role of ICPC in the Fight against Corruption in Nigeria using the Administration of President Buhari between 2015-2020 as a case study.

1.9 Limitations of the Study

During the course of this study, many things militated against its completion, some of which are:

Financial constraints on the part of the researcher to visit ICPC office severally as required.
Unwillingness of ICPC officers to develop data of their prosecution.
The restrictions at their respective officers from having interview with the necessary officers.
The time allocated for this project and length of time required to be visiting the ICPC officers are inversely related.

1.10 Definition of Terms

Anti-Financial Crimes: this is the process lf fighting f financial crimes.

Cyber Cafe Crimes: these are crimes committed through the internet

EFCC: this is an anti-graft institution established to fight against financial crimes in Nigeria

Electronic Crimes: these are financial crimes committed electronically.

ICPC: this is also an anti-graft institution vested to minimize the level of corrupt practices in Nigeria.

Money Laundering: an integration of the proceeds of illegal activities into the financial or banking sector.

…

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …

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TABLE OF CONTENTS
PRELIMINARY PAGES

Title page
Approval page
Dedication
Acknowledgement
Table of Contents
Abstract
CHAPTER ONE
INTRODUCTION
1.1 Introduction
1.2 Background …
⋮
CHAPTER TWO
LITERATURE REVIEW
2.1 Introduction
2.2 Conceptual Review
2.3 Theoretical Framework
⋮
2.4 Empirical Studies
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Introduction
3.2 Research Design
3.3 Population of Study
3.4 Sampling and Sampling Technique
3.5 Validation of Research Instrument
3.6 Method of Data Collection
3.7 Method of Data Analysis
3.8 Questionnaire Administration
3.9 Ethical Consideration
3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
4.1 Introduction
4.2 Presentation and Analysis of Data
4.3 Re-statement of Research Questions
4.4 Test of Hypotheses
4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Introduction
5.2 Summary of Findings
5.3 Conclusion
5.4 Recommendation
5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”

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