Governance & Public Sector · In force

Economic and Financial Crimes Commission (Establishment) Act 2004

Re-enacted the EFCC's establishing law, making it Nigeria's lead agency against economic and financial crimes.

Signed
2004-06-04
Assented by
Obasanjo →
Status
In force
01 Background

This Act repealed and re-enacted the original EFCC (Establishment) Act 2002 to cure drafting inadequacies. It establishes the Economic and Financial Crimes Commission as the coordinating agency for the enforcement of laws against economic and financial crime, with powers of investigation, prosecution and asset forfeiture. It remains the operative EFCC statute.

02 Key provisions · 4
§ 01
Establishes the EFCC and its powers
§ 02
Designates the EFCC as the AML/economic-crime coordinating agency
§ 03
Investigation, prosecution and asset-forfeiture powers
§ 04
Repealed and replaced the EFCC Act 2002
03 What changed in practice
→
Gave Nigeria's financial-crime agency a durable statutory footing
→
Underpins EFCC prosecutions of fraud, 419 and money laundering
04 Who it affects
EFCCBanksPublic officersBusinesses
Official source
EFCC
Primary regulator / sponsoring institution ↗
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Cross-linked tool that operationalises this Act
05 What it repealed / replaced
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