ABSTRACT
Corruption is a complex and persistent cancerous global phenomenon, which bedevils Nigeria. Corruption in the form of misappropriation, bribery, embezzlement, nepotism, money laundering etc. by public officials has permeated the fabric society. Major political parties’ office seekers top the list of corrupt officials. Elected officials of high position and public officers use their position of authority to actively engage in corrupt activities. For several years Nigeria has been at the bottom of the Transparency International (TI), Corrupt Perception International (CPI) ranking. In 2002, the Nigerian government created the EFCC to investigate and prosecute cases of corruption and financial crimes. This project reviews the political economy of corruption and the efforts by the Nigerian government to combat it by examining the types and forms of corruption and the various perspectives for understanding the causes of corruption, The study while recognizing the importance of the various perspectives, employed structural functionalism and system theories to offer deeper insights into the systemic corruption activities. Finally, the project examines the activities of the EFCC since its creation as well as the activities of the EFCC in post Obasanjo era and notes that it faces serious challenges.