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From Rediscover Nigeria desk

  AGRICULTURE   The wealth of a nation is partially measured by its ability to guarantee its citizenry food security.In…

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From Rediscover Nigeria's Desk

Manufacturing in Nigeria concentrates mainly on the production of consumer goods. With a population estimated today at over 156 million…

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Nigeria! Overview

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From Rediscover Nigeria's Desk

Tourism in Nigeria has huge potentials to be a major foreign exchange earner. The Obasanjo administration has created awareness among…

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Nigeria's Resources

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Nigeria's total verified external debts as at December 2010 was US$4.578 billion as against US$3.947 billion in 2009. Total scrutinized…

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Rediscover Nigeria The People
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Enforcement Agencies

One of the fallouts of military rule was the isolation of Nigeria from the rest of the world, her decertification as a drug nation and her listing as a major country of money launderers with huge evidence of financial crimes tolerated by government.


The Economic and Financial Crimes Commission (EFCC) was set up to stem the tide of internet frauds, money laundering, domestic corruption and economic sabotage. The achievements of this agency have been tremendous.

In real terms, the Agency has succeeded in recovering over US$5billion for Federal, States and Local Governments. Its strong credentials have encouraged many individuals including foreigners who were victims of scams to seek succour in the agency. The Commission successfully prosecuted and recovered huge sums of money from the perpetrators of one of the biggest banking scandals involving US$242million. Presently the Commission is prosecuting more than 1,000 cases in court and has secured considerable number of convictions including that of a former Inspector-General of Police. This rate of success is unprecedented and has received global acknowledgment as a sign of Nigeria's seriousness in combating corruption and economic crimes.

The fact that the EFCC has stamped its authority on the minds of Nigerians and foreigners doing business in Nigeria, is a measure of its success considering that similar bodies in the past did little or nothing.


Nigeria has earned more than US$300billion in oil revenues over the past 40 years.  Much of this money was wasted on unproductive ventures and the proceeds from the misadventure stashed away in foreign banks. Some recovery has been made but the world; especially developed countries owe it a duty to repatriate such funds. Corruption is grossly aided by most western countries because they have created laws which protect criminals from Nigeria and other developing countries that have put their people in want and misery and are enjoying safe havens.


The world of today is one in which collective security will be cheaper and better than unilateral security. Corruption amounts to economic terrorism and until there are no safe havens, acts of terrorism will continue. The malaise of the conflicts in developing countries throwing up millions of refugees and making it easy for terrorists to operate stems from poverty and deprivation.

The Western world has devoted enough time to tracking down drug barons and hunting money launderers. A measure of that energy will significantly reduce corruption in Nigeria and other developing countries. Banking secrecy laws and protective extradition legislations in all Western countries therefore need to be reviewed.


The significant effort of the National Drug Law Enforcement Agency (NDLEA) in ridding Nigeria of drug barons led to the recertification of the country in the year 2000. Till date, the agency has continued to help in removing Nigeria from the list of nations tagged as courier countries. It has also secured so many convictions, destroyed tonnes of seized drugs and generally performed creditably with international cooperation and support.


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Last Updated (Friday, 23 December 2011 22:28)

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