The EFCC was created by law in December 2002 and began operating in April 2003. It is responsible for investigating all financial crimes, the coordination and enforcement of all economic and financial crime laws, the adoption of measures to identify and seize proceeds from financial crimes, the adoption of measures to prevent financial crime, the management of information systems related to economic crime, the determination of financial losses incurred by fraud and corruption, and collaboration with national and international bodies to achieve EFCC goals. Currently, the EFCC is severely underfunded, with only 25 percent of its budgeted needs having been approved by the Parliament; and parliamentary maneuvers have blocked financial aid for the EFCC from the U.S. Justice Department. The insufficiency of courts and judges to deal with the congestion of cases, many of which are complex and time-consuming, has impeded the EFCC's work. The chairman of the EFCC has alleged that law enforcement personnel are corrupt and have not cooperated in fighting the anti-graft war. Among the recommendations offered by this paper are that all public officers be required to declare their assets when assuming public office and also when they end their terms of office. All State governors and ministers must be held accountable by requiring them to submit audited financial reports and publicly defend such reports before a constituted independent body. Any public officer found guilty of corruption should be barred from holding or participating in any future public office. Recommendations are also offered for preventing corporate fraud. 46 references