The first most similarities between the
Economic and financial crimes commission and the independent corrupt practices commission
is that both agencies are anti- graft commission whose mandates is to receive
and investigate reports of corruption and in appropriate cases prosecute the offender(s)
to examine, review and to enforce the correction of corruption prone system and
procedures of public bodies, with a view to eliminating corruption in public
life and to educate and enlighten the public on and against corruption and
related offences with a view to enlisting
and fostering public support for the
fight against corruption. For the ICPC, its mandate to prosecute financial
malpractices is contained under section 6(a-f) of the Act 2000. Also the
mandate of the EFCC to prosecute financial malpractices is provided under
section 6 (a-f) of the Establishment Act 2004.
Again, both the Economic and financial crimes
commission and the independent corrupt practice commission are both creation of
the legislature. That is to say that both agencies are created by the Act of
national Assembly. Section (1) of the Economic and financial crimes
commission (Establishment) Act 2004 provides for it establishment of
a body known as the Economic and financial crimes and commission. Also the
independent corrupt practices commission is established under section 3(1) of
the independent corrupt practice and other related offences Act 2000.
Another similarities between the Economic and
financial crimes commission and the independent corrupt practice commission is
that they are the only government agencies saddled with the responsibility to
institute a legal actions against any corrupt individuals be it in public or
private sectors.
The powers of the independent corrupt practice
commission to prosecute offenders in relation to financial malpractices is
contained under section 61 of the Act 2000. Also such powers to prosecute
offenders by the Economic and financial crimes commission is provided under
section 14 of the Act 2004.
Again, both Economic and financial crimes
commission and the independent corrupt practices commission share some similarities
in that both agencies are executive bodies. Both the EFCC and ICPC even though
are said to be independent, are under the control of the executive arm of
government. The president under section 3(2) of the Economic and financial
crimes commission (Establishment) 2004 may at anytime appoint or remove a
member of the commission subject to the confirmation of the senate. The
president also appoints or dismisses the chairman or members of the independent
corrupt practices commission subject to the confirmation of the senate.
Again, both Economic and financial crimes commission
and independent corrupt practices commission are bodies corporate with
perspective succession and be sued in their corporate names and can be used in
their corporate names. That is Even though those financial malpractices are
crimes and so should be instituted by the state against the individuals. The
Economic and financial crimes commission and independent corrupt practice
commissions are empowered by the Acts to institute legal actions against
corrupt officials.