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Abstract: Corruption is a persistent cancerous phenomenon which bedevils Nigeria. Misappropriation, bribery, embezzlement, nepotism, and money laundering by public officials have permeated the fabric of the society. The office seekers of major political parties top the list of unfit or corrupt officials. Elected officials in high echelons of power and public officers use their positions to engage in corrupt activities. It is estimated that corruption accounts for 20 percent of the GDP of Nigeria. For several years, Nigeria has been at the bottom of Transparency International's (TI) Corrupt Perception Index (CPI) ranking. In 2002, the Nigerian government created the Economic and Financial Crimes Commission (EFCC) to investigate and prosecute cases of corruption and financial crimes. This paper reviews the scope of corruption and the efforts by the Nigerian government to combat it by examining the various perspectives for understanding the causes of corruption. The study while recognizing the importance of the various perspectives, notes that both the rent-seeking and institutional theories offer deeper insights into the systemic nature of Nigerian corruption. Finally, the article examines the activities of the EFCC and notes that it faces serious challenges as the configurations of the Nigerian political landscape are uncertain.
Introduction
Corruption is a persistent cancerous phenomenon which bedevils Nigeria. It has been acknowledged in many quarters that corruption is Nigeria's worst problem and is largely responsible for its woes, such as the instability in the Niger Delta, the debt overhang, barriers to democratic elections, and impediment to flow of foreign direct investment (FDI).1 Nigeria is not significantly dissimilar to many developing countries: corruption has been a multifaceted phenomenon characterizing the global economy. Although most studies of corruption focus on developing countries, there are few studies on corruptive practices, the role of the anti-corruption agency, and the debilitating impact of corruption on Nigeria.2
There are a number of reasons for focusing on the scope and impact of corruption in Nigeria and the difficulties in dealing with it. Nigeria occupies a central place in Africa as the most populous country, with an estimated population of over 149 million. It is one of the continent's richest countries and is blessed with a huge diversity of natural and human resources. It is also characterized by a multiplicity of different ethnic...