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Economic and Financial Crimes Commission (EFCC) As A Strategy For Managing Nigerian External Reserves For Sustainable Development

Faboyede, Olusola Samuel and Moses, Chinonye, Love and Onochie, Prosper, Maxwell (2013) Economic and Financial Crimes Commission (EFCC) As A Strategy For Managing Nigerian External Reserves For Sustainable Development. IOSR Journal of Economics and Finance, 1 (2). pp. 48-54. ISSN 2321-5933

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Abstract

Good governance allows a responsible economic and financial management of a nation 's public and natural resources, for the purpose of growth and development. Nigeria 's ability to make remarkable progress in curbing corruption and instituting pragmatic/workable economic and public sector reforms in the system via anti-corruption activities will give her a chance to achieve sustainable growth and development in the management of external reserves. The mechanisms of Economic and Financial Crimes Commission (EFCC), independent and Corrupt Practices Commission (ICPC) and due process have been very instrumental in this regard. An empirical survey on the performance of EFCC shows that the agency is a very key strategy in redeeming the battered image of the Nigeria and making her external reserves management skills a successful one in spite of the fact that criticisms have trailed the agency's activities. The paper concludes that on the overall, the realization of the laudable objectives of good external reserves management will be a mirage if leadership problems of lack of integrity, transparency, corruption, and a travesty/disregard for due process, continue to subsist due to an absence of a vehicle for accountability like the EFCC

Item Type: Article
Uncontrolled Keywords: Development, EFCC, External reserves management, Sustainable growth.
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HF Commerce
H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Mr Solomon Bayoko
Date Deposited: 09 May 2014 13:00
Last Modified: 19 Feb 2016 08:26
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/2582

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