THE DISSIMILARITIES BETWEEN EFCC AND ICPC

Even though both commissions are anti-graft agency saddled with the responsibilities of combating bribery, corruption and other financial malpractice in Nigeria, However, these are  some differences between Economic and financial crimes commission and independent corrupt practice commission.

            While independent corrupt practices commission targets corruption in the public sector especially bribery gratification, graft and abuse or misuse of office, EFCC on the other hand

investigate peoples in all sectors who appear to be living above their means and is empowered to investigate and prosecute money laundering and other financial crimes. The EFCC mission is to curb the menace of corruption that constitute the clog in the wheel of progress protect national and foreign investment In the country, instill the spirit of hard-work in the citizenry and discourage all gotten wealthy, identify illegal acquired wealth and confiscate them, build an upright workforce in both public and private sectors of the economy and contribute to the global war against financial crimes.

            Also, the Economic and financial crimes commission differs from the independent corrupt practice commission in term of composition of officers. Section 3 of the corrupt practices and other related offences Act 2000, which provides for its composition is of the effect that the ICPC is made up of a chairman and 12(twelve) other members which includes under section 3(3) a, A retired police officer not below the rank of commissioner of police. Subsection (6) A legal practitioner with at least 10 years post call experience. Sub section (c) a retired judge of a superior court of record. Sub section (d) a retired public servant sub section (e) a woman sub(f) a youth. While the EFCC consists of a wider scope of officers which includes the chairman, the governor of central bank of Nigeria or his representative and all other official from the foreign affairs, finance, justice Ministries. Also the chairmen or their representatives from the national drug law enforcement Agency, National intelligence Agency, Department of state security service, corporate affairs commission and some other Federal Commission.

            Also, while the independent corrupt practice commission is headed by a retired justice of a superior courts of record and whose tenure of office is 5 years and may be reappointed for a further term of 5years and no more, the Economic and financials crimes commission is been headed by a chairman who shall be a serving or retired member of any government security or law enforcement agency not below the rank of Assistant commissioner of police or equivalent and not less than 15 years cognate experience whose tenure is for a period of four years and may be reappointed for a further term of four years and no more.

            The independent corrupt practice commission can be differentiated from the economic and financial crimes commission in that the ICPC relates or deals more on offence in government parastatals, ICPC prosecutes offences of giving or accepting gratification, under sections and 9 of the independent corrupt practices and other related offences Act.

            Counseling offence relating to corruption, fraudulent acquisition of property, receipt property. Bribery of public officer, bribery for giving assistance. All these  offences are found, applicable in government ministries and agencies while the EFCC on the other hand, prosecutes financial malpractices both in government agencies or ministries, financial institutions like banks, insurance companies, individuals engaged in Advance fee fraud, and offences relating to terrorism under section 15(1) of the economic and financial crimes commission (Establishment) Act 2004.

            The EFCC is more wider in scope in relation to offences of financial malpractice. Section 46 of Economic and financial crimes (Establishment Act 2004 provide the non-violent criminal and illicit activity committed with objective of earning wealth illegally and form of fraud. Money laundering, illegal oil Bunkering tax evasion, dumping of toxic waste. That is the EFCC prosecutes both economic crimes and financial crimes.