This research has fared in reducing the incidence of corruption in particular internet scam, bank fraud and bad governance. Ti fairs discuses the corruption situation in Nigeria by lighting public office holders who have been associated with corruption charges. This was demonstrated by the establishment of two major anti-graft institution and independent corrupt practices commission (ICPC) and the economic and financial crime commission.
This development in turn facilitate stiff completion, ineffective internal control system, weak corporate governance pal practice among other thus further providing easy avenue for money laundering and other financial crimes . to use the financial system to achieve that various objective. The government though it financial arrow head. The CBN increased its tempo against the fight of financial crime. it does this by putting in place a series of anti-money laundering and comply financing of terrorism measures to pug loopholes so as to ensure the continues soft and soundness of the financial system and determine all forms of financial crime in Nigeria.
1.1 Background Of The Study
In Nigeria, the upsurge in financial crimes could be partly attributed to the liberalization of the financial sector in the late 1980’s which the result in a phenomenal leap in the number and complexities of banks and non bank financial institutions.
This development in turn facilitates stiff competition, ineffective internal control system, weak corporation, governance malpractice among other this further providing easy avenue of many laundering and other financial crimes to use the financial system to achieve their various objective on the embodiment of democracy in Nigeria by may 29, 1999, under the leadership of president Olusegun Obasanjo. One cardinal programme of the Obasanjo administration is the fight against corruption and waste in the public services. This he demonstrated is the establishment of two major anti-graft institutions, the independent corrupt practices and other related offences commission (ICPC) and the economic and financial crime commission (EFCC) in the year 2000ad 2003 respectively. The government though its financial arrow head. The cbnin creased its tempo against the fight of financial crimes.
This it does by putting in place series of anti-money laundering (AML) and combating financing of terrorism (CFT) measures to plug loopholes so as to ensure the continued safe and soundness of the financial system and determine all forms of financial crime in Nigiera (Adigu 2005) the government taget is to zero tolerance for financial crimes and corruption. This is why it has pursued though promulgation of laws against graft such as independent commission practices land other related offences).
Act, money laundering (prohibition) act 2004it has strengthened and keeps strengthening of anti-corruption and other economic crime institutions of due process mechanism in public sector procurement environment for effective private public sector partnership. monthly publication of distributable revenue from federation account to the different tiers of government. Institution for transparencies in the oil and gas though the work of the extractive industries transparency initiative (NEITI among other.
1.2 Statement Of The Problem
 Despite the struggle and movement against financial crimes in the financial system.
 The anti-financial crime commission seems to be a political weapon against political opponents; hence a change in such government weakness the strength of the commission.
 There are individual which seems to be unto chable by the financial crime commission as a result of their political strength or affiliation with the chief basin government. These is weak approach in tacking crime justly and fairly by the commission.
1.3 Objectives Of The Study
The objective of this study is to look into the activities of the financial crime commission in Nigerian with respect to political affiliation. It is also aimed at investigating the extent of success made far by the EFCC and ICPC in their fight against corruption and financial crimes and also to effectively employ the aid of the organization responsible for execution of this adverse practice in Nigeria and to educate the public on the proper use in the country and to delete totally the fraud on brace by the Nigerian.
14. Significance Of The Study
- To help disclose the national for the birth of EFCC and ICPC in Nigeria.
- To be of importance to further researcher as a references guide to their work.
- To be relevant to the researcher because it is a necessary condition for her receiving the award of Higher National Diploma (HND) in the banking and finance.
- To be of relevance to any reader as it will help shows the function, objectives and relationship between EFCC and ICPC.
- To help look at the root causes of financial crimes in Nigeria and ways to fight it.
1.5 Scope Of The Study
The scope of this research work will be limited only to Nigeria that is the project work will not be extended to her countries of the world.
1.6 Imitation Of The Study
This study is limited by
- Financial constraints on the part of the researcher to visit EFCC and office severally as required.
- Unwillingness of EFCC and ICPC officers to develop data of their prosecution
- The restriction at their respective officers form having interview with the necessary officers.
- The time allocated for this project and length of time required to be visiting the EFCC and ICPC officer are inversely related.
1.7 Assumption Of The Study
The following assumption are made
- The EFCC and ICPC has played a vital role in reducing corrupt practices and financial crime in Nigeria.
- The banking sector has derived benefits as a result of the presence of EFCC and ICPC .
1.8 Definition Of Terms
Anti-financial crime:-
this is the process fighting financial crimes
Cyber café crimes:
these are crime committed though the internet.
EFCC:
This is an anti-graft institution established to fight against financial crime in Nigeria.
Electronic crimes:
these are financial crimes committed electronically.
ICPC:-
this is also an anti-graft institution vested to minimize the level of corrupt practices in Nigeria
money laundering :
An integration of the proceeds of illegal activities into the financial or banking sector.
