Nigerian's Economic and Financial Crimes Commission was formed about a year ago, under the leadership of one Nuhu Ribabu.
Although, the agency is yet to secure any successful legal prosecution, it has made remarkable success in the number of arrests of corrupt Nigerian government officials, and continues it's efforts by showing an aggressive willingness to prosecute corrupt persons in court.
A few months ago, the Nigerian government announced a new committee (Cybercrime Committee), to further look into the Cybercrime issue. Our sources tell us, that the new committee, is poised to recommend that EFCC be relived of all 419 investigative authority, and be replaced with a new Central Authority.
A) Granted, EFCC has not been totally effective against 419, it has been the most effective to date with the number of arrests and cases in court.
B) We hear from our sources, that Nuhu Ribadu, may be touching political nerves by publicly disclosing that some governors have ill gained wealth stashed overseas. There is political pressure underway to render Nuhu Ridadu, and his agency useless.
C) Can Nigeria really afford another white elephant project?
The creation of a new agency will cost millions. EFCC is currently undertaking the development of a financial intelligence system; the technical and organizational resources will be similar to those of Cyber crime investigations. There will be resource duplication.
D) Why has the President created EFCC, only now to want to render it useless?
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