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ECONOMIC
CRIMES AND NATIONAL SECURITY: CHALLENGES FOR NIGERIA
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The
phenomenon of crime has been in existence since time immemorial. From the time
Adam disobeyed God in the Garden of Eden to the modern highly complex crime
networks, the human society has never been devoid of criminal activities. Human
nature is inflexible and hence crime, which is a product of human existence,
has remained irrespective of space, time or age. Nevertheless differences do
exist in the practices prevalent in various cultures and societies.
A holistic
definition of crime has remained illusive to scholars. This implies that there
is no simple definition for crime. It is an act or the commission of an act
that is forbidden or the omission of a duty that is commanded by a public law
and that makes the offender liable to punishment by that law (Pillai, 2001:13).
Adam smith's natural theory of law on one hand defines crime as, ‘the violation
of individual rights and man made laws’ or simply, an illegal act (ibid:14).
There are varying classifications and categories of crime.
The FBI
classifies crimes into violent, property and economic crimes. Violent crimes
include murder and homicide (voluntary manslaughter), forcible rape, aggravated
assault, and robbery while property crimes include burglary, arson, larceny,
and motor vehicle theft. Economic crimes on the other hand include the
embezzlement of public funds, currency trafficking and money laundering. Other
categories of economic crimes include tax evasion, AFF and all such illegal
acts that may have a damaging effect on the economy of the host country.
Since the
end of the Cold War, many countries have witnessed great advancement in science
and technology. This advancement in technology brought about a revolution in
ICT. With the world now globalized, the ICT revolution in the Twentieth Century
literally removed the barriers of time and space, thus increasing political and
economic interactions among nations. This development ushered in abundant
opportunities in the areas of tourism, culture and economic interaction among
many countries. This resulted in the free and fast movement of people,
information, goods and money across international borders. Thus with ICT, huge
funds could be transferred across the globe electronically within a very short
time.
These new
opportunities brought along with them some challenges, such as the issue of
economic crimes and the attendant insecurity. Economic crimes have since taken
a new dimension of complexity with no respect for international boundaries.
This has seriously threatened the world economy as well as the physical
security and sociological well being of many countries.
All
countries are vulnerable to the harmful effects of economic crimes. In the USA,
daily foreign exchange transactions is estimated at US $1 trillion, out of
which over US $20 billion is lost to economic and finance related crimes
annually (Robinson, 2005:5).Similarly, the UK looses ₤25 billion yearly through
scam (ibid:6). Commenting on the amount of money involved in this crime, Edward
Jurith, acting director of the US ONDCP, stated that it stood roughly at US $1
trillion a year. This is largely realized from drug trafficking (Jurith,
2002:212). This implies that the volume of economic transactions across the
world economies in a day is huge. It is therefore difficult to track dubious
dealings in the midst of legitimate payments.
The effect
of economic crimes is worse in African countries due to their weak economic
structures, corruption, high rates of unemployment, mass poverty and poor
wealth distribution. These are pre-requisites to the thriving of economic
crimes. When the youths are unemployed and poverty threatens their very
existence, they become prone to anything that guarantees their survival. Thus
in most cases, Internet scam, AFF and drug trafficking become their most viable
options. Similarly, when corruption has eaten into the fabric of a nation,
economic crimes like embezzlement of public funds, money laundering, tax
evasion and currency trafficking become the order of the day.
In Nigeria,
the menace of economic crimes has been on the increase. A lucrative stock
market, a well capitalized banking sector and a weak financial regulatory
mechanism provide the suitable platform for economic crimes to flourish.
Similarly, the lack of stringent policies on corruption has encouraged a lot of
politicians and government officials to embezzle public funds without fear of
ramifications. Several politicians and government officials have been indicted
for embezzlement of public funds within the last decade (Ribadu,
2010:4).Additionally, illegal oil bunkering and pipeline vandalism are reported
on regular basis leading to reduction in crude oil output. Furthermore,
incidences of AFF and internet scam have persisted in the last decade. These
illegal economic activities have impacted negatively on the Nigerian economy
and her international image. One of the cumulative effects this has on Nigeria
is the reduction in FDI and disruption of economic development. These have had
a direct impact on Nigeria’s national security (ibid:5).
According to
AS Mukhtar (2007:4), threats to Nigeria’s national security include border
conflicts, bad governance, ethnic conflicts, militancy, underdevelopment and
corruption such as economic and financial crimes. Thus, the rate of economic
crime imposes real threats to the national security of the country.
The fight
against economic crime in not new in Nigeria, yet this phenomenon has continued
to spread its tentacles across every sector of the economy. Though economic
crimes cannot be completely eradicated from the society, its frequency can be
greatly reduced through organized planning and calculated measures.
Accordingly, several anti-corruption agencies have been set up to combat
economic and financial crimes in Nigeria. Some of these agencies are the EFCC,
ICPC, NDLEA and NAPTIP among others. The activities of these agencies have
raised hope that economic crimes can be curtailed in Nigeria.
The World
Bank in 2006, ranked Nigeria among 26 countries that risked collapse as a
result of bad governance, corruption and high rate of economic crimes (Alobo,
2006:62). Economic crimes erode the integrity of the financial institutions and
discourage FDI. These are serious challenges to the Nigerian economy that could
undermine her national security. It is against this background that this
researcher is motivated to embark on the study of the effects of economic
crimes on national security and the challenges they constitute to the
anti-corruption agencies in Nigeria.
1.2 STATEMENT OF THE PROBLEM
Economic
crimes have been in existence since colonial times. Initially limited in scope
and accorded little importance, economic crimes started generating public
concern in Nigeria from about 1984 when a decree specifying among others, the
death penalty for drug traffickers was promulgated and backdated. Two citizens
found guilty retroactively were subsequently executed thereby attracting public
awareness among the populace about an otherwise little known crime.
Other economic crimes such as embezzlement,
tax evasion, fraud, money laundering, illegal oil bunkering, arms and human
trafficking and pipeline vandalism soon escalated. The World Bank estimates
that as much as $200 billion has been lost to corruption and mismanagement in
Nigeria since independence in 1960 (Zero Tolerance, 2008:17). In 2007, Ribadu,
then EFCC chairman, said on the floor of the Senate that ‘31 out of 36
governors were indicted for acts of embezzlement of public funds’ (Newswatch,
2007:6). Despite sustained efforts to curtail these crimes, the phenomenon has
continued to grow, threatening national security and sustainable development.
Increase in economic crimes have also
taunted Nigeria’s image in international relations. This has led to the
blacklisting of Nigeria by the USA for not doing enough to curb the involvement
of Nigerians in economic crimes. In July 2002 for instance, Nigeria was
decertified and Americans were advised ‘to be wary of transacting business with
Nigerians’ (Sule, 2004:4) Similarly, the Transparency International in 2003,
rated Nigeria as the second most corrupt country in the world after Bangladesh.
However, by 2010, Nigeria’s position had dropped to the forty fourth most
corrupt country in the world. But this in no way suggests that corruption rate
had reduced in Nigeria but merely an indication that other countries had become
more corrupt than Nigeria. Nigeria’s CPI still remained very low. Measures so
far taken by the government to curb economic crimes have yielded little result.
1.3 RESEARCH QUESTIONS
In light of
the foregoing, this research seeks to answer the following questions
a. What is the relationship between economic
crimes and national security?
b. What are the effects of economic crimes
on national security in Nigeria?
c. What measures has Nigeria taken to combat
economic crimes?
d. What factors have militated against the
eradication of economic crimes in Nigeria?
e. What strategies are best suited for the
eradication of economic crimes in Nigeria?
1.4 OBJECTIVE OF STUDY
The
objective of this study is to examine the effect of economic crimes on national
security in Nigeria. Thereafter, strategies that could assist in eradicating
the menace will be recommended. Specifically, the objectives of the study are
to:
a. Establish the relationship between
economic crimes and national security.
b.
Examine the effect of economic crimes on national security.
c.
Examine steps taken by Nigeria to combat economic crimes.
d. Examine factors militating against the
eradication of economic crimes in Nigeria
e. Suggest strategies to curb economic
crimes in Nigeria.
1.5 SIGNIFICANCE OF THE STUDY
. This study is significant because it
seeks to provide the FGN, policy makers and anti-corruption agencies with a
vivid understanding of
economic
crimes. Furthermore, it will assist in informed policy formulation and the
institution of more effective measures against economic crimes. It also seeks
to enrich the existing body of knowledge, provoke further discussions and raise
more public awareness on the menace of economic crimes to the society. It will
provide scholars and researchers with new basic reference materials for further
research work on the subject matter.
1.6 SCOPE OF THE STUDY
In view of the vastness of economic
crimes, this study paid particular attention to fraud and drug trafficking as
they affect national security, with emphasis on Nigeria’s experience from 1999
to 2010. Fraud and drug trafficking were particularly chosen for study because
of their very damaging effect on the nation’s image and their impact on
national security. Nigerians are often suspected and treated as criminals at
international ports of entry into other countries just for being Nigerians. The
country’s efforts to attract foreign investments and accelerate development can
hardly be realised unless this problem is resolved.
The study covered the period from 1999
to 2010. This period was chosen because of government’s renewed efforts since
1999 to fight corruption at all levels and in all spheres of the country.
1.7 LIMITATION OF THE STUDY
The major limitation faced during this
study was the poor methods of record keeping by most agencies and institutions.
Similarly, confidentiality of information and documents also posed a limitation
to this research. Consequently, despite several visits to such agencies, it was
difficult to obtain vital up-to-date information. Another limitation to the
study was the reluctance of some government officials to grant interviews.
These limitations notwithstanding, the researcher used the secondary source to
complement dearth faced with the primary source. The internet was also
effectively utilized. Thus these limitations did not adversely affect the
reliability and the validity of the study.
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