Strengthening EFCC

THE Economic and Financial Crimes Commission (EFCC) is the agency responsible for curbing economic crimes and hunting down money launderers. Its duties detail include investigation of cases involving money laundering, check forgery, check washing, counterfeit checks, non-sufficient funds checks, counterfeit credit cards, fraudulent use of credit cards, fraudulently possession of credit cards and suchlike. The agency was established in 2003, with pressure from Financial Action Task Force on Money Laundering (FATF) which mentioned Nigeria as one of 23 countries hampering the international community’s efforts to fight money laundering.  It was one of the most commendable agencies created by  former President Olusegun Obasanjo’s administration. Since then, the EFCC has fought corruption and partners with several agencies like the FBI, metropolitan Police, German Police, Canadian Police, USAID, DFID, the World Bank, among others. The cooperation of bilateral partners and foreign donors such as European Union also  aided the fight against corruption in Nigeria.

Corruption turned a hale and hearty economy into a pale economy as public office holders milked the system to deny millions of Nigerians access to the most basic health and education services. The fight against crimes in Nigeria has turned to a cyclical pattern of great and poor performance; when it seems it is making progress in the fight against corruption, the demons practically fight back and dent the image of the nation like a punched car. On President Muhammadu Buhari fighting corruption, Professor Lumumba, former director of the Kenya Anti-Corruption Commission, said, ‘No matter how good your idea is, it must be sold to others and they must buy into it. That is how you institutionalize the idea. You cannot be a lone warrior in this matter because the children of darkness hunt like a pack of wolves and they will devour you if you are alone,” in an interview with Sahara Reporters.

“When people have power in their hands, they feel that they are lords unto themselves and wield power arbitrarily, but when the table turns against them they feel that the hunter has become the hunted,” said an anonymous man, a photographer and public relations expert who resides in Ikeja, Lagos. But a question remains: has the hunter become the hunted truly? The sun was setting, yet the sky to the west was streaked with red and orange. That was on Monday, July 6 2020 when the former EfCC boss was detained and asked to account for the various alleged cases of official misconduct and financial irregularities leveled against him. Allegations were made by the Attorney General and Minister for Justice, Abubakar Malami, who demanded for the removal of the erstwhile acting Chairman of the EFCC, Ibrahim Magu, in a memo to President Muhammadu Buhari . One of the allegations involved the sum of N700 million meant for the training of the commission’s operatives. The training, it was gathered, had not been held. Also, springs of information further revealed that the 332 seized properties worth billions of naira were concealed. As it is, he must disprove the weighty allegations hanging around his neck like the sword of Damocles.

The EFCC should be strengthened, making it truly independent. I think the constant selection of the EFCC boss from among the serving policing officers within the Nigeria Police should be looked into. We also have capable hands among other sectors of the society that can head the agency. Magu was the chief investigator during Ribadu’s time, and his conviction rate was excellent. It is noteworthy to point out that he has successfully arraigned and prosecuted prominent political figures on corruption charges and recovered billions of dollars and hundreds of properties. There are so many theories surrounding Magu’s trial but one fact we can’t shy away from is that the former EFCC is not immune to being investigated, though he deserves fair hearing. It is good that an independent body has been set up to look into the aforementioned allegations. The panel must take an objective route.

The EFCC seems to be the only Nigerian government institution that barks and claws at the impunity enjoyed by the  corrupt and powerful political elite. Anti-corruption bodies like the Independent Corrupt Practices and Other Related Offences (ICPC) and the Code of Conduct Bureau (CCB) must wake up and complement its efforts. They must fight all financial crimes that threaten the strategic, political and economic interests of Nigeria. It is an open secret that corruption and poor governance are key factors holding back Nigeria’s development, and until it is fought impartially, things will continue to look hopeless.

• Anjorin writes in from Lagos.

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