Curbing financial crimes with anti-graft bureaus in Nigeria: The accountants’ perception
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Date
2015
Journal Title
Journal ISSN
Volume Title
Publisher
Journal of Accounting and Management Information Systems
Abstract
Corruption, be it financial or non-financial is a global cankerworm
that has eaten deep into the fabrics of many nations and war against it has been a
recurring decimal in every economy. In Nigeria, recent attempts at nipping
corruption in the bud gave rise to some anti-graft agencies such as the Economic
and Financial Crimes Commission (EFCC). Against this background, opinion of
140 accountants in various capacities was sought on the efficacy of the anti-graft
agencies in curbing financial crimes through a survey questionnaire. The study
found that respondents group perceived the anti-graft agencies as highly effective
but could not establish that accountants in various walks of life differ significantly
in their perception of the efficacy of the Nigerian Anti-graft bureaus (Overall
Mean= 2.98, F= 2.263 and P>0.05) using ANOVA as statistical analysis tool. It
was recommended that Nigerian government should strengthen the Anti-financial
crimes agencies given that the influence of highly placed offenders, the dignity,
societal bondage and shame inherent in financial crimes may affect the potency of
anti-financial crimes measures put in place.