EFCC and DSS: So many shakedowns, so few prosecutions

The behaviour of the Economic and Financial Crimes Commission (EFCC) and the Department of State Security (DSS) is having a direct impact on investor confidence in doing business in Nigeria.

There have been number of people picked up by these agencies, held for long periods and then released regardless of the significance or insignificance of their purported crime.

Yet at the end of the day, almost none of these cases make it through to a successful prosecution.

It is clear that regardless of the guilt or innocence of the plaintiff, once the shakedown is over, they are aptly then released.

Many of these alleged criminals are picked up for indebtedness from the supposed failure of a commercial contract which is generally a civil not criminal matter.

This gives multiple unfortunate impressions to international investors.

Firstly, that contacts are not enforceable further reinforcing the sense of lawlessness in Nigeria.

Secondly, that they too might get picked up if their proposed debt funded venture fails.

Thirdly, all business men and women of any standing are rogues.

This does not encourage investment no matter what hygiene factors the Federal Government tries to improve

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