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ABSTRACT
This study is concerned with the political economy of corruption and regulatory agencies in Nigeria.
It focused on the critical assessment of the performance of the
Economic and Financial Crimes Commission (EFCC) in its fight against political corruption in Nigeria since its creation. Thus, this study is guided by the following research questions: (1) Has the EFCC accomplished its statutory
mandate in terms of reducing the rate of political corruption in
Nigeria between 2000 and 2010; (2) To what extent does dual legitimacy
of criminality influence the performance of the EFCC in Nigeria. To
achieve our objectives of this study, we relied on the observational
technique and documentation as our method of
data collection. This implied that data were generated from the
secondary sources, which were analyzed with the use of qualitative
descriptive analysis as well as table presentations and percentages. We
adopted the theory of social production and reproduction as the viable
framework of analysis that explained how the activities of the EFCC have
been constrained by certain environmental conditions. We observed that the EFCC has remained a tool of social and economic domination of the ruling class over the rest of the society. The study concluded that political corruption
will remain unabated in this current social structure of dependence of
the EFCC on the ruling class and that EFCC has not accomplished its
statutory mandate in terms of reducing the rate of corruption in
Nigeria. Unless these
environmental conditions change, the EFCC will not accomplish its
statutory obligation. However, we recommend that there is need to review
the penal codes in our constitution, which will stipulate in clear
terms the procedure and punishments for all categories of corrupt
practices especially within the public sector.
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