Skip to main content

EFCC AND FIGHT AGAINST MONEY LAUNDRING IN NIGERIA BETWEEN 2013 AND 2014


ATTENTION:
BEFORE YOU READ THE CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:       
YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL PROJECT COSTS N5,000 ONLY. THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR YOU CAN CALL: 08068231953, 08168759420


EFCC AND FIGHT AGAINST MONEY LAUNDRING IN NIGERIA BETWEEN 2013 AND 2014

ABSTRACT

The research topic on EFCC and fight against money laundering in Nigeria between 2013 and 2014 aimed at determine the effect EFCC participation on the alleviation of money laundering in Nigeria. the study looked at the concept of money laundering and some theories to back it up, the primary data was used for the purpose of the research work; and chi-square was used for the purpose of the analysis; the p-value of 0.00 which is less than 0.05 level of significance we concluded that there is significant effect of EFCC participation in the alleviation of money laundering on the economic development of Nigeria.

Major recommendations were made on the level of crises in Nigeria since it was discovered that most of the terrorist attacks on Nigeria were mastermined by money looters in Nigeria.

 

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF STUDY



Money laundering in Nigeria has become something else in recent times; there have been an endless war against corruption and money laundering. Money laundering is usually found mostly in the federal government parastaters. A fight against money laundering have always been a lost battle but the EFCC is doing their best to bring it to minimum if not the resolve it.

Money laundering is an act of taking money that is not duely assigned to you. The money might be for the purpose of budget. There was a memo as at novernber 20, 2014 submitted by the Chief of Air Staff, A.N. Amosu, revealed that Mr. Eze had on November 4, 2014 submitted a proposal to the office of the National Security Adviser proposing to supply the upgraded helicopters to the NAF. The tone of Mr. Eze’s letter, obtained by us, indicated that he was deeply involved in sourcing and supplying hardware to the Nigerian military as it is embroiled in a fight against Boko Haram militants. For instance, on August18, 2014 alone, the sum of N26.68m in eight transactions; N178.54m in 43 transactions on August 19, 2014; N17.38m on September 3, 2014; N90.53m on November 11, 2014; N30.70m on November 11, 2014; N13.54m on November 26, 2014; N67m on December 5, 2014; and N10.80m on December 16, 2014 what are all these money for? There is money laundering all over Nigeria in recent times.

In the year 2013, the governor of Benue state was interrogated by the EFCC concerning some amount of money he is taking out of the country; question was asked concerning the money, the governor told the EFCC of Nigeria that he was going to get foreign pigs for agriculture in Benue state.

According to Steel (2006), money laundering is said to be what it is because it shows how “illegal” and “dirty” monies are put through a cycle of transactions and washed, so it could come out as clean/legal money. This means that the source of this fund (illegal money) is obscured through a succession transfers and deals that those same funds can eventually be made to appear as good money. In the Dictionary of Finance and Banking (2008), this term “money laundering” was refers to as a process where money is acquired illegally either through theft, drug dealing etc, is cleaned so that it will appear to have come from a legitimate source. The origin of this “devil” (money laundering) could not be ascertained by anyone, but there are several opinions that it started several thousand years ago with Chinese merchants. In the words of silkscreen (1994) and Steel (2006) they claimed that it all started from Mafia Ownership of Laundromats, in the United States where they needed to prove the genuine source for their monies, as they earned their cash from extortion, prostitution, gambling and bootleg liquor. Also according to silkscreen (1994), the development of money laundering was for trade and that Nigeria as a country is the centre of money laundering in Africa. Nigeria’s historical record of exploitation goes as far back as when her people were used as slaves under British colony and as an independent and a sovereign country experiencing transition from a military dictatorship to a democratic form of government after over 16years of military rule. Now, with the democratic form of government, money laundering is still on the increase. With this rate of scans in Nigeria financial sector, the law enforcement decided to come up with legislative act called the money laundering (prohibition) Act 2004, this was followed by the Central Bank of Nigeria (CBN) Anti-money laundering compliance manual guidelines from Economic and Financial Crimes Commission (EFCC, 2003), Independent Corrupt Practices Commission ICPC, 2000). All agencies were changed with the responsibility of fight against money laundering and enforcement of all laws dealing with economic and financial crimes in Nigeria.

1.2 STATEMENT OF PROBLEM

EFCC have been trying to bring down money laundering in Nigeria but it is difficult to fight against the parastater that created the EFCC, the issue of money laundering is on the increase in Nigeria. ranging, money laundering through drugs, cheating and stealing. Every administration that is coming in always promise to fight corruption but at the end of the day, they became corrupt or they make it worse. People have being crying; who could make it right. The federal government of Nigeria and the EFCC are really fighting to bring down corruption in Nigeria.



1.3 RESEARCH QUESTION

1.  Will the EFCC participation in other activities make them effective in preventing money laundering?

2. What are the roles of the federal government of Nigeria in fighting corruption?

3. Does corruption have any significant effect on the growth and development of Nigeria?

4. What are the importance of money of laundering?

5. What are the best ways of stopping money laundering?

6.  Does money laundering have significant effect on the future leaders?

HOW TO GET THE FULL PROJECT WORK

PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).

HOW TO RECEIVE PROJECT MATERIAL(S)
After paying the appropriate amount (#5,000) into our bank Account below, send the following information to
08068231953 or 08168759420

(1)    Your project topics
(2)     Email Address
(3)     Payment Name
(4)    Teller Number
We will send your material(s) after we receive bank alert

BANK ACCOUNTS
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
Bank: GTBank.

OR
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 2023350498
Bank: UBA.



FOR MORE INFORMATION, CALL:
08068231953 or 08168759420


AFFILIATE










Comments

Popular posts from this blog

THE FACTORS RESPONSIBLE FOR PUPILS LATENESS TO SCHOOL IN PRIMARY SCHOOL

ATTENTION: BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU! TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL: 08168759420, 08068231953 TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT: www.easyprojectmaterials.com www.easyprojectsolutions.com www.worldofnolimit.com THE FACTORS RESPONSIBLE FOR PUPILS LATENESS TO SCHOOL IN PRIMARY SCHOOL ABSTRACT This study was designed to find out those factors that are responsible for pupils lateness to school in Agabi primary school in Orhionmwon Local Government Area of Delta State. The incessant occurrence of chart and some time criminal behaviour not only by the audit population, but also the students of this country in recent times has since began to give cause of concern, particularly to parents, government and school administrators. Questionnaires from a sample of four

ADVERTISING AS A ‘’POWER TOOL’’ FOR BUSINESS GROWTH (A CASE STUDY OF NIGERIAN BOTTLING COMPANY PLC)

ATTENTION: BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU! TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL: 08168759420, 08068231953 TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT: www.easyprojectmaterials.com www.easyprojectsolutions.com www.worldofnolimit.com ADVERTISING AS A ‘’POWER TOOL’’ FOR BUSINESS GROWTH (A CASE STUDY OF NIGERIAN BOTTLING COMPANY PLC) ABSTRACT The study was on Advertising as a Power Tool for Business Growth. Advertising refers to any form of non-personal presentation or promotion of ideas, goods and services by an identified sponsor. The raison d’ taire of advertising is to create awareness of a product and to further stimulate brand preference. Therefore, its role in the pursuant of a company’s profit making objective cannot be over emphasized. The study used the Nigerian Bottling Co

AFRICAN STANDBY FORCE: PROSPECTS FOR REGIONAL SECURITY

  ATTENTION: BEFORE YOU READ THE ABSTRACT OR CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!   INFORMATION: YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL PROJECT COSTS N5,000 ONLY. THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR YOU CAN CALL: 08068231953, 08168759420       AFRICAN STANDBY FORCE: PROSPECTS FOR REGIONAL SECURITY   TABLE OF CONTENTS CONTENTS                                                        PAGE(S) TITLE PAGE………………………………………………………………   i APPROVAL PAGE………………………………….……………………   ii DECLARATION…………………………………………………….……   iii DEDICATION……………………….……………………………………   iv ACKNOWLEDGEMENT………….………………………….…………   v TABLE OF CONTENTS………………………………………………… vi-ix LIST OF TABLES ……………………………………………………….   x LIST OF FIGURES ……………………………………………………… xi LIST OF ABBREVIATIONS…….……………………………………… xii-xiii ABSTRACT………………………………………………………………… xiv-xv   CHAPTER