Law

THEECONOMICANDFINANCIALCRIMESCOMMISSION.
SCOPEANDFUNCTIONSOFTHEEFCC
TheEconomicandFinancialCrimesCommissionhereinaftercalledTHEEFCCisa
Nigerianlawenforcementagencychargedwiththeresponsibilityofpurgingthe
nationofeconomicandfinancialrelatedoffencesliketheadvancefeefraud1
popularlyknownas419admoneylaundering.
TheEFCCwasestablishedin2003followingsevereeconomicblowsresultingfrom
financialcorruptpractices2andthepressureforsuchacommissioncomingfrom
theFinancialActionTaskForceonMoneyLaundryanagencyoftheOrganizationfor
EconomicCooperationandDevelopment.Theformationwasbothnecessitatedby
thehugefinancialcorruptionsongoinginNigeriaandthesubsequentlistingof
Nigeriaasoneofthefewnon-compliantnationsforeconomicintegration.
LEGALFOUNDATIONANDVALIDITY
ThevalidityandlegalbackingofthecommissioncomesfromanActof
parliament,theeconomicandfinancialcrimecommission
(Establishment)act2004.S1(1)makesprovisionsfortheestablishment
ofthecommissionwhileS.1(2)(A)&(B)makesthecommissionabody
cooperate,havingthepowerandlocusstanditosueandbesuedina
personalcapacityrespectively.
Thecommission’saudacitytofight,prosecuteandinvestigatefinancial
andeconomiccrimesstemsfromS1(2)(C)oftheAct.Thefull
functionsofthecommissionisdetailedinS6(A)to(q)oftheAct.
METHODOFOPERATION
S.30oftheActstipulatesthatwhereapersonisconvictedofanoffence
underthisAct,thecommissioneroranyauthorisedofficershallapplyto
thecourtfortheorderofconfiscationandforfeitureoftheconvicted
person’sassetandpropertiesacquiredorobtainedasaresultofthe
crimesubjecttoaninterimorderundertheAct.
S.31(2)isoneofthemostsensitiveofallprovisionsasitstipulatesfor
thesecretaryofthecommissionuponreceiptofafinalorderpursuantto
1Examplesof419includeTheSpanishPrisonerTrick,confidencetricks,blackmoneyscamadthe
DetroitBuffaloscams
2Decreasedforeigndirectinvestmentsandbadnationalreputation.


S.31(1)totakestepsindisposingoffthepropertyconcerned,bysale
{orotherwise}andwherethepropertyissold,theproceedsthereof,paid
intotheconsolidatedrevenuefundofthefederation.
Note:S.31(4)givestheattorneygeneralofthefederation,powersto
makerulesforthedisposalorsaleofanypropertyforfeitedpursuantto
theAct.
STRUCTUREANDACADEMY
S2(1)makesprovisionsformembersofthecommissionwhichwould,
amongothersconsistofthechairman,with15yearsormoreworking
experienceinlawenforcement.Othersincludegovernorofthecentral
bankofNigeria,arepresentativefromforeignaffairs,finance,justice
commission/ministriesetc.theActalsoprovidesforthecommission’s
directorateoflegalprosecution,publicaffairsdepartmentandanEFCC
academy.
LIMITATIONSANDSUCCESSSTORIES
ItisnodoubtthateveryAchilleshasaheelandtheEFCCisnoexception,
issuesofthecommission’strueindependencehasbeenquitepuzzling
especiallyintheselectionofthechairmanbythepresidentandthe
subsequentconfirmationofhis/herappointmentbythelegislature.This
troublingscenariohasbeenmanifestinthecurrentrejectionofIbrahim
MagubytheAPCledsenateunderthepoliticalengineeringofSen.Dino
MeleyarepresentingKogiWest.
TheEFCChasalthoughbeenabulldogsinceitsinceptionandthiscan
beseeninnotjusttheonetimeinvestigationof30outof36state
governorsbutinthesuccessfulindictmentofGov.Alaghemeseyaof
Bayelsastateamongothers.


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