a. According to Part II of the Act 2002, the responsibilities of the Commission are as follows:
(i) The enforcement and the due administration of the provisions of the Act.
(ii) The investigation of all financial crimes which include advance fee fraud, money laundering, counterfeiting, illegal charge transfers, futures market fraud, fraudulent encashment of negotiable instruments, computer credit card fraud, contract scam, etc.
(iii) The co-ordination and enforcement of all economic and financial crime laws and enforcement functions conferred on any other person or authority.
(iv) The adoption of measures to eradicate economic and financial crimes.
(v) The adoption of measures to identify, trace, freeze, confiscate or seize proceeds derived from terrorist activities, economic and financial crime related offences or the properties, the value of which corresponds to such proceeds.
(vi) The adoption of measures which includes coordinated, preventive and regulatory actions, introduction and maintenance of investigative and control techniques on the prevention of economic and financial related crimes.
(vii) The facilitation of rapid exchange of scientific and technical information and the conduct of joint operations geared towards the eradication of economic and financial crimes.
(viii) The examination and investigation of all reported cases of economic and financial crimes with a view to identifying individuals, corporate bodies or groups involved.
(ix) The determination of the extent of financial loss and such other losses by government, private individuals or organisations.
(x) Collaboration with government bodies both within and outside Nigeria, carrying on functions wholly or in part analogous with those of the Commission concerning:

b. The following are the punishments, which the Code of Conduct Tribunal shall
impose if it finds a public officer guilty of contravention of any of the
provisions of the code of conduct for public officers, viz:
(i) Vacation of office or seat in any legislative house;
(ii) Disqualification from membership of a legislative house and from holding any public office for a period not exceeding ten years;
(iii) Seizure and forfeiture to the state, any property acquired in abuse or corruption of office;
(iv) Penalties that may be imposed by any law where the conduct is also a criminal offence; and
(v) Prosecution of the public officer punished in a court of law.

c. The three methods of debt burden transfer are as follows:
(i) Transfer through reduced capital formation: The decision of government to withdraw money from the economy will cause a reduction in the level of disposable income, which invariably may affect consumption, or capital formation. In the first case, the welfare of the present generation as measured by consumption is reduced while the income of the future generation will be unaffected. In the second case, the consumption welfare of the present generation is
untouched whereas the future generation will inherit a small capital stock and thus enjoy a lower income. In this sense the future generation is burdened.
(ii) Transfer through generation overlap: Capital formation is the only way through which burden transfer between generations can occur. Assume the existence of two generations with generation one living from years 1 to 50 and generation two lives from 25 to 75. If generation one is requested to pay one million naira needed to finance a public project with a useful life of 50 years, generation one will do so at the cost of reducing its own consumption by this amount. Only in years 25 to 50 will it be possible to collect taxes of N500,000 from generation two in order to refund generation one. In this way, generation one while initially assuming the entire burden can transfer part onto generation two.
(iii) Transfer with external debt: In this case, there is no need for generation one to reduce its expenditure. Both consumption and capital formation in the private sector can remain intact as the
resources needed for the public outlay are obtained abroad. Loan finances now impose a burden on generation two not only with reduced capital formation but with responsibility to servicing the foreign debts. Taxes must be paid to finance interest paid to foreigners rather than to domestic holders of the debt. This foreign debt burden replaces the loss of capital formation which generation two would have suffered had there been domestic loan finance and a resulting reduction in capital formation.

d. The requirements for revenue bonds are as follows: (i) Identification of government‟s authority to borrow and the type of activities to which the enabling legislation applies.
(ii) General grant of power to acquire, construct, improve or extend the special improvement to issue revenue bonds and pledge same for the payment of these bonds.
(iii) Requirement that the issuing body should establish sufficient charges or rates to operate and maintain the projects and meet principal and interest payments as scheduled.
(iv) Guarantee that the revenue bonds have all the qualities of a negotiable instrument under the appropriate law of the State.
(v) Provisional design to secure the successful operation of the project.
(vi) Remedies to be initiated where there is default.