The House of Representatives has passed for second reading a bill seeking to amend the Economic and Financial Crimes Commission (EFCC) Establishment Act, 2004, to confer institutional independence on the anti-corruption agency.
The resolution of the House followed the consideration of a bill sponsored by Plateau lawmaker, Yusuf Gagdi, at Thursday’s plenary.
Among other things, the proposed legislation seeks to insulate the EFCC from political control and align its operations with global anti-corruption best practices.
Taking his colleagues through the general principles of the bill at a session presided over by the Deputy Speaker Benjamin Kalu, Gagdi said the proposed amendment seeks to modernise the EFCC’s legal framework to enable it to respond to the multi-layered patterns of financial and economic crimes across the country.
Since the enactment of the EFCC Act in 2004, the scope of financial crimes has expanded to include cybercrime, cryptocurrency manipulation, illicit financial flows, terrorism financing, and real estate-based money laundering.
Under the existing Act, the President does not need the approval of the parliament to kick out the Chairman of the anti-graft body.
He said, “The EFCC operates under outdated provisions that do not adequately address these new realities. Furthermore, the existing Act does not provide sufficient guarantees for the independence of the Commission, exposing it to external influence and political interference,” the lawmaker said.
One of the proposed amendments is the reduction of the President’s power to remove the EFCC chairman, which, under the current Act, can be done at the President’s sole discretion.
Section 3(2) of the EFCC Act 2004 provides for the condition of removal of the EFCC chairman.
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The Section read, “A member of the Commission may at any time be removed by the President for inability to discharge the functions of his office (whether arising from infirmity of mind or body or any other cause) or for misconduct or if the President is satisfied that it is not in the interest of the Commission or the interest of the public that the member should continue in office.”
Gagdi noted that in the proposed amendment, the removal of the EFCC Chairman would require the approval of a two-thirds majority of both the Senate and the House of Representatives for it to take effect.
The Plateau lawmaker argued that if the proposed amendment scales through, public confidence in the anti-graft agency would be restored.
He continued, “The bill presents a decisive step towards strengthening Nigeria’s anti-corruption framework. It seeks to ensure that the EFCC operates as an independent, professional, and transparent institution that is responsive to modern financial crime realities.
“This amendment will not only ensure Nigeria’s global reputation, but also promote good governance, economic stability, and public confidence in the fight against corruption”, he said.
In his contribution, Abia lawmaker and Chairman, House Committee on Financial Crimes, Ginger Onwusibe, said the amendment was long overdue, noting that many of the contemporary financial crimes were not captured in the Principal Act.
The bill was unanimously passed for second reading and referred to the relevant House committee for further legislative action.