By Douglas Ogbankwa
The Economic and Financial Crimes Commission was created by the administration of President Olusegun Olusegun, due to the perception rightly or wrongly that the Police is unable to tackle the issues that concern economic and financial crimes .
The Agency itself is double standards personified. While they are pursuing Yahaya Bello as an enemy of the state, the sane scenario exist with some other former governors, but mum is the word .
While Bobrisky got 6 months imprisonment for a plea bargain, which by the law is a huge indictment on his (her) Lawyer, since she is a “shemale”, an actress some few weeks ago , got an option of fine, over the same sets of facts and same crime .
The craze to prosecute Nigerians for Naira desecration which I concede is illegal by virtue of Section 21 (3) of the CBN 2007 (As Amended), is curious judging by the fact that there exist several Economic crimes going on in this Country that the EFCC turns a blind eye on .
The EFCC itself needs a thorough investigation, as there has not been any audit of its activities since inception .We do not know how much they have recovered since their exception, where the monies or properties are and the last two chairmen left office on alleged corruption complaints
There have been cases of Politicians sharing money during elections and Primaries, I do not know of any one arraigned in Court. Some cities run out of foreign currencies in other moments of the determination of who won an election and nothing is done .
There is a connivance of agencies of Government with those who run the Government to cover up bare faced crime.The forget that the Law is for the Government and the Governed.They call it regime protection, but , I call it conspiracy , crime and criminality .
Why is the EFCC very interested in Financial Crimes and not Economic Crimes ?This is because Financial Crimes are committed by the weak , while Economic Crimes are committed by the Big Wigs .
While do we do know of the criminal activities of Banks ware housing forex and selling same meant for importers to the black market .This criminal activity has created billionaires of these young Bank MDs and their Accomplices , who have now created holding Companies to Continue to have a hold on the Nigerian Economy.
EFCC has a department of Bank Fraud that is only interested in petty bank frauds .The real frauds take place in the Bank HQs.In the Board Rooms ,Committee Rooms .It takes place in the Nigerian Loan Spectrum , where about 90 percent of the indebtedness to Nigerian Banks is owed by less than 0.5 percent of the Nigerian Population , these people also control about 90 percent of our Bank Deposits and wait for this , they are also mostly directors or owners of most of our banks, either directly or by proxy .
EFCC should also arraign vote buyers, those on our high ways collecting bribes daily , the corrupt network of syndicates on our sea ports and airports etc.
It is time to hit on Economic Crimes, not just Financial Crimes .
About the Author: Douglas Ogbankwa Esq. @douglasogbankwa@gmail.com, is the Convener of the Security Situation Room.
