In the shadows of the EFCC: is the ICPC still relevant?

Abstract

PurposeTo demonstrate how the Independent Corrupt Practices Commission (ICPC) can sustain relevance in the bid to check corruption despite the encroaching regulatory intervention of the Economics and Financial Crimes Commission (EFCC) in Nigeria.Design/methodology/approachAn analytic approach; to make the case that the ICPC is still relevant in the regulatory scheme as a dedicated agency to corruption issues in Nigeria, the provisions of the Corrupt Practices and Other Related Offences Act, 2004 are reviewed and the structure of the ICPC is examined. The powers and functions of the ICPC are highlighted with the sole intent that the opportunities which exist for the ICPC to be relevant within the current regulatory scheme can be identified and analysed.FindingsWhilst the risk of competitive regulation persists, there is a persuasive case for retaining the ICPC as a separate agency dedicated to the fight against corruption.Practical implicationsTo challenge the ICPC to change the focus of its regulatory activity from prosecution to prevention through the adoption of forensic strategies that would strengthen private and public institutions and reduce opportunities for corruption.Originality/valueThis paper offers a measure of clarity on the regulatory scope of the EFCC and ICPC in the fight against corruption, economic and financial crimes.