Economic and Financial Crimes Commission Institute (Establishment) Bill

What Is This Bill?

The Economic and Financial Crimes Commission Institute (Establishment) Bill, 2025 (HB. 2396) is a legislative proposal to establish a dedicated federal institute under the aegis of the Economic and Financial Crimes Commission (EFCC) for the training, research, and capacity development of anti-corruption, anti-money laundering (AML), counter-terrorist financing (CTF), and financial crimes investigation professionals in Nigeria. The Bill seeks to create a statutory institute that will professionalise financial crimes investigation and enforcement in Nigeria, develop trained personnel for EFCC and related agencies, conduct research on economic and financial crimes trends, and serve as Nigeria’s primary centre of excellence in financial intelligence and anti-corruption practice.

Who Does It Target?

EFCC personnel, investigators, prosecutors, forensic analysts, and financial intelligence officers requiring structured professional training and career development pathways Officers of related anti-corruption and financial intelligence agencies, including the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Nigerian Financial Intelligence Unit (NFIU), the Nigeria Customs Service, and the Nigeria Police Force Financial Crimes Units Compliance officers, AML/CFT professionals, and risk managers in Nigeria’s banking, insurance, capital markets, and fintech sectors regulated by the CBN, SEC, and NAICOM Legal practitioners, judges, and prosecutors handling financial crimes, asset recovery, and corruption cases in Nigerian courts Government officials, public servants, and procurement officers subject to financial accountability and anti-corruption obligations under Nigerian law International development partners, FATF, GIABA, and multilateral anti-corruption bodies collaborating with Nigeria on AML/CFT compliance and capacity building

What Does It Aim to Achieve?

Establish a statutory institute dedicated to providing specialised training, research, and professional development in financial crimes investigation, anti-corruption enforcement, asset tracing, and financial intelligence analysis Build a sustainable pipeline of professionally trained financial crimes investigators and prosecutors to improve EFCC’s operational effectiveness and reduce Nigeria’s backlog of prosecution cases Develop and certify anti-money laundering (AML) and counter-terrorist financing (CTF) professionals aligned with Financial Action Task Force (FATF) standards, supporting Nigeria’s effort to exit FATF’s grey list and strengthen its mutual evaluation ratings Conduct applied research on emerging financial crimes trends including cybercrime-enabled fraud, cryptocurrency-linked money laundering, trade-based money laundering (TBML), and corruption in public procurement Provide accredited training programmes for compliance professionals across Nigeria’s private sector to improve the overall AML/CFT ecosystem beyond the EFCC itself Establish Nigeria as a regional hub for financial crimes training, attracting collaboration from West African, African Union, and international anti-corruption bodies

Key Features

Federal Establishment: The Institute will be established as a federal statutory body, likely under the supervision of the EFCC or the Attorney General of the Federation, with a governing council, management structure, and academic/professional board Training Mandate: The Institute will provide structured professional training programmes in financial crimes investigation, forensic accounting, asset tracing and recovery, digital forensics, AML/CFT compliance, and economic crimes prosecution Research & Intelligence Function: The Institute will conduct research on economic and financial crimes patterns, publish policy-relevant findings, and advise the EFCC, NFIU, and the Federal Government on emerging financial crimes threats and prevention strategies Certification & Accreditation: The Institute is expected to develop and confer professional certifications for financial crimes investigation and AML/CFT compliance, creating a new cadre of nationally and internationally recognised Nigerian financial crimes professionals FATF Alignment: The Institute’s curriculum and certification framework will be benchmarked against FATF Recommendations, the Egmont Group standards, and relevant UN Convention Against Corruption (UNCAC) obligations to which Nigeria is a signatory Regional Outreach: The Institute will serve as a training hub for financial intelligence and anti-corruption professionals from across West Africa and the African continent, strengthening the inter-agency and cross-border dimension of financial crimes enforcement Sponsor: Hon. Yusuf Adamu Gagdi, representing Pankshin/Kanke/Kanam Federal Constituency, Plateau State, who has been an active voice on security, financial integrity, and anti-corruption legislation in the 10th National Assembly

Current Status

Legislative Stage: First Reading passed 26 June 2025 during the 10th National Assembly, Third Session; introduced as part of a significant batch of bills presented between 24–26 June 2025 Next Steps: The Bill will proceed to Second Reading, floor debate, referral to the relevant House Committee (likely Financial Crimes or Judiciary/Anti-Corruption), public hearing, committee report, Third Reading, and transmission to the Senate before Presidential Assent EFCC Context: The EFCC, established under the EFCC Act 2004, has historically trained its personnel through internal mechanisms and partnerships with international bodies such as the FBI, INTERPOL, and the Basel Institute on Governance; this Bill would institutionalise and expand that training capacity into a dedicated statutory body FATF Grey List: Nigeria was placed on the FATF grey list (Jurisdictions Under Increased Monitoring) in February 2023; a dedicated Institute that strengthens AML/CFT human capital is directly responsive to the technical assistance and capacity-building deficiencies identified in Nigeria’s FATF Mutual Evaluation Report Complementary Legislation: The Bill complements Nigeria’s recently enacted anti-financial crimes legislative architecture including the Money Laundering (Prevention and Prohibition) Act 2022, the Terrorism (Prevention and Prohibition) Act 2022, and the Proceeds of Crime (Recovery and Management) Act 2022

How to Access

EFCC Personnel: Upon establishment, EFCC investigators, analysts, and support staff will access Institute training programmes through the Commission’s human resources and staff development channels Other Government Agencies: Officers from ICPC, NFIU, Nigeria Customs, Nigeria Police, FIRS, and other MDAs involved in financial regulation and enforcement may apply for professional training and certification programmes at the Institute Private Sector Compliance Officers: Banks, insurance companies, pension fund administrators, and designated non-financial businesses (DNFBs) required by the CBN and NFIU to maintain AML/CFT compliance programmes may access Institute certification courses for their compliance staff Legal & Judicial Officers: Prosecutors and judges handling financial crimes cases may engage the Institute’s specialised training on financial evidence, asset forfeiture, and economic crimes prosecution techniques Legislative Tracking: Track the Bill’s progress through the National Assembly at nass.gov.ng and the NALTF Bill Tracker at billtracker.naltf.gov.ng Contact: Economic and Financial Crimes Commission (EFCC): efccnigeria.org | Nigerian Financial Intelligence Unit (NFIU): nfiu.gov.ng | House of Representatives: nass.gov.ng

Important Terms

EFCC: The Economic and Financial Crimes Commission, Nigeria’s principal agency for investigating and prosecuting economic and financial crimes, established under the EFCC Act 2004 AML/CFT: Anti-Money Laundering and Counter-Terrorist Financing, the regulatory and operational frameworks through which financial institutions and agencies prevent, detect, and report the laundering of criminal proceeds and the financing of terrorism FATF: The Financial Action Task Force, the intergovernmental body that sets global standards for AML/CFT compliance; countries on the FATF grey list are subject to enhanced monitoring and international scrutiny Financial Intelligence: The collection, analysis, and dissemination of financial data to detect criminal activity, trace illicit funds, and support law enforcement investigations into money laundering, corruption, and terrorist financing Asset Tracing & Recovery: The investigative and legal process of identifying, freezing, seizing, and forfeiting assets derived from criminal activity, including funds held in foreign jurisdictions through mutual legal assistance treaties (MLATs) UNCAC: The United Nations Convention Against Corruption, a multilateral treaty to which Nigeria is a signatory, requiring signatory states to criminalise specific corrupt acts, recover stolen assets, and cooperate internationally in anti-corruption enforcement

Impact & Metrics

Nigeria’s FATF grey-listing in February 2023 has increased the cost and friction of international banking transactions for Nigerian businesses and individuals; a well-funded Institute that improves AML/CFT capacity is a direct pathway to FATF delisting The EFCC has secured over ₦600 billion in convictions and asset recoveries since its establishment; a dedicated training institute will improve investigative quality, reduce case timelines, and increase the proportion of prosecutions resulting in convictions Cybercrime-enabled financial fraud is estimated to cost Nigeria billions of naira annually; an Institute with dedicated digital forensics and cybercrime investigation training will materially improve Nigeria’s response capacity to technology-enabled financial crimes The Proceeds of Crime (Recovery and Management) Act 2022 created a new framework for managing recovered assets; trained personnel produced by the Institute will improve the efficiency of Nigeria’s asset management and repatriation processes Nigeria’s ranking on Transparency International’s Corruption Perceptions Index (CPI) where it ranked 145th out of 180 countries in 2024, reflects systemic corruption that a professionalized anti-corruption enforcement workforce is designed to address As a regional training hub, the Institute positions Nigeria as a leader in West Africa’s anti-corruption and financial crimes enforcement ecosystem, potentially attracting international funding from the World Bank, UNODC, and bilateral development partners

Official Resources

Website: efccnigeria.org | nfiu.gov.ng | nass.gov.ng | billtracker.naltf.gov.ng Bill Reference: HB. 2396, Economic and Financial Crimes Commission Institute (Establishment) Bill, 2025 Source: NALTF — House of Representatives 10th Assembly Bills, First Reading June 24th–26th, 2025: naltf.gov.ng Contact: Economic and Financial Crimes Commission (EFCC), Jabi, Abuja | Nigerian Financial Intelligence Unit (NFIU), Abuja — House of Representatives Committee on Financial Crimes, National Assembly Complex, Abuja Summary prepared using the Policy Summary Template — Source: NALTF House of Representatives 10th Assembly Bills — First Reading June 24th–26th, 2025 (naltf.gov.ng); EFCC (Establishment) Act 2004; Money Laundering (Prevention and Prohibition) Act 2022; Proceeds of Crime (Recovery and Management) Act 2022 — March 2026

Legal Framework

The EFCC Institute (Establishment) Bill, when enacted, would operate under the Economic and Financial Crimes Commission (Establishment) Act 2004, the Money Laundering (Prevention and Prohibition) Act 2022, and the Terrorism (Prevention and Prohibition) Act 2022. It aligns with FATF standards on capacity building for anti-money laundering and counter-terrorist financing, the Egmont Group of Financial Intelligence Units, and the Asset Recovery Inter-Agency Network for West Africa (ARINWA).