Curbing Financial Crimes with Anti-Graft Bureaus in Nigeria

Abstract

Corruption, be it financial or non-financial is a global cankerworm that has eaten deep into the fabrics of many nations and war against it has been a recurring decimal in every economy. In Nigeria, recent attempts at nipping corruption in the bud gave rise to some anti-graft agencies such as the Economic and Financial Crimes Commission (EFCC). Against this background, opinion of 140 accountants in various capacities was sought on the efficacy of the anti-graft agencies in curbing financial crimes through a survey questionnaire. The study found that respondents group perceived the anti-graft agencies as highly effective but could not establish that accountants in various walks of life differ significantly in their perception of the efficacy of the Nigerian Anti-graft bureaus (Overall Mean= 2.98, F= 2.263 and P>0.05)using ANOVA as statistical analysis tool. It was recommended that Nigerian government should strengthen the Anti-financial crimes agencies given that the influence of highly placed offenders, the dignity, societal bondage and shame inherent in financial crimes may affect the potency of anti financial crimes measures put in place.