ECONOMIC CRIMES AND SECURITY CHALLENGES: PROSPECTS AND CHALLENGES FOR NIGERIA

Abstract

A popular slogan used in various association all over the country say “Unity and Progress” another says “Peace and Unity”. One thing stands out for these two slogans, and that is the fact that the actualization of one thing depends on the other. There can not be unity without peace as such no nation is bound to see incredible progress when there is absence of Unity. Economic crimes and security challenges are both unwanted twins that has plagued the Country over a long time. Both of them had walk hand in hand to ensure that Nigeria is constantly degraded and all thanks to the leadership of the country over the years who have helped this duo achieve this feat. This study was undertaken to examine the connection between Economic crimes and security challenges; taking into consideration its prospect. The study adopted the content analysis method and has sufficiently provided data for this study. The study found out that the country is headed for doom if economic crimes and insecurity is allowed to continue. However, the study clearly stated that the action against this duo is a collective responsibility where government takes the lead.

TABLE OF CONTENT

CHAPTER ONE: INTRODUCTION

1.1    Background of the study

1.2    Problem statement

1.3    Purpose of the study

1.4    Significance of the study

1.5    Study hypotheses

1.6    Scope and Limitations of the Study

1.7    Organization of Study

CHAPTER TWO:

REVIEW OF RELATED AND RELEVANT LITERATURE

2.1    Introduction

2.2    Conceptual Review

2.3    Theoretical Framework

2.4    Empirical Studies

CHAPTER THREE

THEORETICAL MODELS OF CRIMINAL BEHAVIOUR

3.1    Introduction

3.2    Psychological Approaches

3.3    Sociological Approaches

3.4    Biological Approaches

CHAPTER FOUR

CONSEQUENTIAL EFFECT OF ECONOMIC CRIMES AND INSECURITY

4.1    Economic Crimes

4.2    Undermining the integrity of financial institutions and markets

4.3    Loss of control of the national economic policy

4.4    Economic distortion and investment instability

4.5    Loss of needed revenue for development

4.6    Negative national image

4.7    The Effect Of Insecurity In Nigeria

CHAPTER FIVE: CONCLUSION, SUMMARY, RECOMMENDATION

5.1    Introduction

5.2    Conclusion and Findings

5.3    Summary of the Study

5.4    Recommendation

Bibliography

CHAPTER ONE

INTRODUCTION

1.1       Background of the Study

Nigeria today, in spite of her oil and gas resources, is a poor country with 80 to 90 million Nigerians of the estimated 130 million people living in poverty. Only India and China have more poor people. Her GDP stood at about $45 billion in 2001 and a per capita income of $300. She has earned over $300 billion from oil exports since the mid 70s but her current per capita income is about 20% less than the 1975 level. She suffers under an excruciating external debt burden of about $33 billion, equivalent of 60% of the GDP. A lot of critical public infrastructure is in the decay and suffer from waste. Unemployment and inflation are in the double digits. Corruption continues to pose a major challenge to good governance. The fight against other crimes has not faired any better. Perhaps that justified the recent assertion by Jeffrey Robinson in his recent book titled “The Sink” that ‘there is no country on the planet earth to compare corruption and criminality as in Nigeria’. Although I do not accept the generalization, it is a fact that corruption and criminality of few has rubbed on the other Nigerians. It is however important to acknowledge the bold step taken by the present administration to change the tide. For the first time in the history of our country Government has stood up firmly to confront corruption from the top. Mr. President has in many public for a made it clear that he will fight corruption to a standstill. The establishment of the Independent Corrupt Practices (And other Related Offences) Commission (ICPC) and the EFCC was in furtherance of that objective.

1.2       Statement of the Problem

The history of corruption is as old as the world, because ancient civilizations have traces of widespread ‘illegality and corruption’. Thus, Lipset and Lenz 2000 note that ‘’corruption has been ubiquitous in complex societies from ancient Egypt, Israel, Rome, and Greece down to the present’’. Corruption is also believed to be endemic in modern government and it is not peculiar to any continent, region, or ethnic group. This does not, however, mean that the incidence and magnitude of corruption activities are the same in every society. Some countries are obviously more corrupt: yet others have better plans in managing corrupt activities. Apparently, Nigeria is not one of those countries with a better handle on corruption, despite its unending corruption commissions and all the noise made by every administration on the efforts to transform the nation into a corrupt-free society. Now, the effect of corruption in Nigeria has been so glaring that even the blind can see it. It has reflected in the form of economic crimes and high security challenges in the country. Economic crimes have become not just a problem to the nation but a strategy for some unscrupulous individuals to get rich and earn recognition in the society. From my understanding so far, there is a relationship between economic crimes and insecurity in the country. Although, this my assertion is not scientifically proved; but I think that some corrupt people in this country especially those in top echelon commit these crimes and turn around to instigate insecurity. This is the strategy, if they steal and instigate insecurity, attention will be diverted from the stolen resources to the insecurity. On the other hand, some corrupt people first incite insecurity and then demand resources to attack the insecurity which indirectly goes to their bank accounts. This condition is worrisome because, this type of intention, attitude, and action has crippled the speedy development of our beloved nation. It has brought international mockery and disrespect to the country, to the point that smaller countries disrespect the giant of Africa. It is on this premised that this study was undertaken to examine economic crimes and insecurity. We will look at the challenges and the prospects. This is intended that at the end of this study, insightful fact must have been provided for better understanding of the subject. Recommendation will be made that will help push the nation out of this quagmire.

1.3       Objectives of the Study

This study is undertaken to examine clearly the issue of economic crimes and security challenges in the country. Specifically, the objectives are:

a.    To clearly explain and distinguish between economic crimes and security challenges thereby establishing a nexus.

b.   To highlight the consequential effect of economic crimes and security challenges in the country.

c.    To recommend effective ways of minimizing the effects of economic crimes and security challenges in the country.

1.4       Significance of the study

This study is essential as it reveals to the reading public academically the meanings, causes and effects of economic crimes and insecurity in the country. To the governing institutions, it is a reminder to what is happening and a call to action for them. To the students, the study be contribute to further studies.

1.5       Research Questions

Research questions are like navigators to the research work. It is drawn from the objectives to maintain harmony and precision in the study. This study attempts to provide answers to the following questions:

a.    Is there a relationship between economic crimes and security challenges in the country?

b.   What is the consequential effect of economic crimes and security challenges in the country?

c.    What is the possible way out of this quagmire?

1.6       Scope and Limitation of the Study

The study is an encompassing one as it accommodates a lot of literatures dealing on economic crimes and insecurity. The idea is to provide sufficient but relevant information on the subject of discourse. Thus, the study is limited to economic crimes and insecurity in Nigeria. Further studies outside the country can be conducted. More so, the study was limited by lack of most recent studies or empirical literatures which is believed would have contained new facts about our subject of discourse.

1.7   METHOD OF DATA COLLECTION AND ANALYSIS

For the purpose of generating data to answer our research question in this study, we used qualitative method of data collection. We sourced our data mainly through secondary source which comprise books, journals, magazines and the internet.

In analyzing the data collected through secondary sources, the work adopted content analysis which will enable it to textually and concisely explain the data. Through this validity and liability of the data will be assured and figures presented in such away it can be easily understood.

1.8   Organization of the Study

This study is segmented into five chapters. This is to enhance comprehension, crate symphony in writing and most importantly abide with the departmental project guidelines. Hence, the first chapter deals with a background to the study; stating the problem, its aims, hypotheses and significance. The second chapter brings a review of the related and available literatures. It recognizes the works of several scholars on the same subject and brings to light their contributions and opinions. This chapter is divided into the conceptual, theoretical and empirical frameworks. The third chapter reveals the methodology adopted for this study. The method and sources of data were highlighted in this chapter as well as the research design. The fourth chapter has to do with the presentation and interpretation of data. This is scientific because our claims have to be backed up by verified facts. The fifth chapter gives us the summary of the entire work in few sentences, draws the conclusion for the study and gives recommendations if any.