Economic and Financial Crimes Commission
Encyclopedia
The Economic and Financial Crimes Commission (EFCC) is a Nigeria
n law enforcement agency that investigates financial crimes such as advance fee fraud
(419 fraud) and money laundering
. The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering
(FATF), which named Nigeria as one of 23 countries non-cooperative in the international community's efforts to fight money laundering. The agency has its head office in Abuja
.
, the agency has addressed financial corruption by prosecuting and convicting a number of high-profile corrupt individuals, ranging from Nigeria's former chief law enforcement officer to several bank chief executives. By 2005, the EFCC arrested government officials including, Diepreye Alamieyeseigha
.
In September 2006, the EFCC had 31 of Nigeria's 36 state governors under investigation for corruption. In December 2007, the Nigerian Federal Government, after extensive investigations by EFCC and other organisations, cleared the Vaswani brothers of any wrongdoing and invited them back into the country. Leading Nigerian daily "This Day" and other major newspapers reported the facts of their clearance quoting text from FG issued directives. In April 2008, the EFCC began the investigation the very influential daughter of the former Nigerian President, Senator Iyabo Obasanjo-Bello
for receiving N10 million ($100,000), stolen from the Ministry of Health. The former Health Minister and her deputy are currently on trial for stealing over N30,000,000 ($300,000) from the ministry's unspent funds from last year.
On June 6, 2008, Chief (Mrs) Farida Mzamber Waziri
was sworn in as the new chairperson of the EFCC. Then on the 6th of August 2008, the former chairman Nuhu Ribadu
was demoted from Assistant Inspector General (AIG) to Deputy Commissioner of Police (DCP).
Since 2008, its website contains a list of the country's most wanted criminals.
On September 14, 2010, the head of the Forensic Unit of the EFCC, Abdullahi Muazu, was assassinated in Kaduna. He had been actively involved in the trials of several heads of banks.
Press
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
n law enforcement agency that investigates financial crimes such as advance fee fraud
Advance fee fraud
An advance-fee fraud is a confidence trick in which the target is persuaded to advance sums of money in the hope of realizing a significantly larger gain...
(419 fraud) and money laundering
Money laundering
Money laundering is the process of disguising illegal sources of money so that it looks like it came from legal sources. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount...
. The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering
Financial Action Task Force on Money Laundering
The Financial Action Task Force , also known by its French name, Groupe d'action financière , is an intergovernmental organization founded in 1989 on the initiative of the G7. The purpose of the FATF is to develop policies to combat money laundering and terrorist financing...
(FATF), which named Nigeria as one of 23 countries non-cooperative in the international community's efforts to fight money laundering. The agency has its head office in Abuja
Abuja
Abuja is the capital city of Nigeria. It is located in the centre of Nigeria, within the Federal Capital Territory . Abuja is a planned city, and was built mainly in the 1980s. It officially became Nigeria's capital on 12 December 1991, replacing Lagos...
.
History
Under the previous EFCC chairman Nuhu RibaduNuhu Ribadu
Mallam Nuhu Ribadu is a former Nigerian government anti-corruption official. He was the pioneer Executive Chairman of Nigeria's Economic and Financial Crimes Commission , the government commission tasked with countering corruption and fraud...
, the agency has addressed financial corruption by prosecuting and convicting a number of high-profile corrupt individuals, ranging from Nigeria's former chief law enforcement officer to several bank chief executives. By 2005, the EFCC arrested government officials including, Diepreye Alamieyeseigha
Diepreye Alamieyeseigha
Diepreye Solomon Peter Alamieyeseigha was governor of Bayelsa State in Nigeria from 29 May 1999 to 9 December 2005.-Background:...
.
In September 2006, the EFCC had 31 of Nigeria's 36 state governors under investigation for corruption. In December 2007, the Nigerian Federal Government, after extensive investigations by EFCC and other organisations, cleared the Vaswani brothers of any wrongdoing and invited them back into the country. Leading Nigerian daily "This Day" and other major newspapers reported the facts of their clearance quoting text from FG issued directives. In April 2008, the EFCC began the investigation the very influential daughter of the former Nigerian President, Senator Iyabo Obasanjo-Bello
Iyabo Obasanjo-Bello
Iyabo Obasanjo-Bello was elected as a Nigerian Senator representing Ogun Central Senatorial District of Ogun State in April 2007....
for receiving N10 million ($100,000), stolen from the Ministry of Health. The former Health Minister and her deputy are currently on trial for stealing over N30,000,000 ($300,000) from the ministry's unspent funds from last year.
On June 6, 2008, Chief (Mrs) Farida Mzamber Waziri
Farida Mzamber Waziri
Chief Farida Mzamber Waziri was appointed Executive Chairperson of the Nigerian Economic and Financial Crimes Commission in May 2008. She succeeded Nuhu Ribadu in this post.-Background:...
was sworn in as the new chairperson of the EFCC. Then on the 6th of August 2008, the former chairman Nuhu Ribadu
Nuhu Ribadu
Mallam Nuhu Ribadu is a former Nigerian government anti-corruption official. He was the pioneer Executive Chairman of Nigeria's Economic and Financial Crimes Commission , the government commission tasked with countering corruption and fraud...
was demoted from Assistant Inspector General (AIG) to Deputy Commissioner of Police (DCP).
Since 2008, its website contains a list of the country's most wanted criminals.
On September 14, 2010, the head of the Forensic Unit of the EFCC, Abdullahi Muazu, was assassinated in Kaduna. He had been actively involved in the trials of several heads of banks.
Hoaxes
Some advance fee fraud scammers write e-mails to earlier victims, posing as EFCC representatives, claiming they can help them get their money back, in order to scam them once more.External links
- EFCCNigeria.org – Official website
- EFCC Related news
Press
- Nigeria’s struggle with corruption, presented by the chairman of the EFCC to the US Congressional House Committee on International Development
- Banks take a breath of fresh air as FATF gives clean bill of health
- Nigeria: EFCC intensifies probe of health ministry, ThisDay newspaper, March 2008