Economic and Financial Crimes Commission Act (Amendment) Bill

A Bill strengthens the Economic and Financial Crimes Commission's investigative powers and asset recovery framework. It introduces non-conviction based asset forfeiture and enhances whistleblower protections. The law aims to improve anti-corruption efforts against financial criminals and money launderers.

Economic and Financial Crimes Commission Act (Amendment) Bill Policy Overview

What Is This Policy?

An amendment to strengthen the EFCC's investigative powers, asset recovery framework, whistleblower protections, and operational independence to improve Nigeria's anti-corruption and financial crimes enforcement outcomes.

Who Does It Target?

Politically exposed persons (PEPs) and public officials Money launderers, fraudsters, and financial criminals EFCC and relevant regulatory bodies (CBN, SEC, FIRS) Whistleblowers and witnesses in financial crimes cases

What Does It Aim to Achieve?

Strengthen EFCC powers for swift asset tracing and forfeiture in complex financial crimes Introduce non-conviction based asset forfeiture to recover proceeds of crime more effectively Improve EFCC operational independence from political interference Enhance whistleblower protections to encourage reporting of financial crimes

Key Features

Current Status

Funding: Federal Government budget; a percentage of recovered assets retained for EFCC operations

How to Access

Citizens and businesses report financial crimes directly to the EFCC. Requirements: Any person may report a financial crime — anonymous reports accepted Detailed evidence or credible intelligence required for investigations to proceed Whistleblowers may apply for the formal reward programme (up to 5% of recovered assets) Application method: EFCC: www.efcc.gov.ng | Report: [email protected] | Hotline: 0800-EFCC-NG

Important Terms

Non-conviction forfeiture applies where defendant cannot explain legitimate source of assets Whistleblower identity kept confidential throughout proceedings Making false reports to EFCC is a criminal offence

Impact & Metrics

EFCC recovered over ₦350 billion in 2024; strengthened powers and non-conviction forfeiture could triple annual recoveries, benefiting Nigeria's public finances.

Official Resources

Website: www.efcc.gov.ng Contact: EFCC — [email protected] | Hotline: 0800-EFCC-NG Federal Republic of Nigeria — Policy Summary Document | March 2026

Legal Framework

Economic and Financial Crimes Commission (Establishment, etc.) Act (principal Act being amended); Constitution of the Federal Republic of Nigeria 1999; Money Laundering (Prevention and Prohibition) Act; Proceeds of Crime (Recovery and Management) Act 2022; FATF Recommendations