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Posts in Acts and Laws related to Economic and Financial Crimes Commission (EFCC)

Money Laundering (Prohibition) Act, 2014

2016-12-20 3:29 PM | by Nigeria Compliancehub

This Act provides for the repeal of the Money Laundering Act 2004 and enactment of Money Laundering (Prohibition) Act, 2011; makes comprehensive provisions to prohibit the financing of terrorism, the laundering of the proceeds of a crime, or an illegal act; and provides appropriate penalties and expands the… Read more

Economic and Financial Crimes Commission (Establishment) Act 2004

2016-12-20 3:39 PM | by Nigeria Compliancehub

This is an Act establishing the Economic and Financial Crimes Commission (EFCC), and stipulating the functions of the Commission which include, amongst other things, the investigation of all financial crimes including advance fee fraud, money laundering, counterfeiting, illegal charge transfers, futures market fraud, fraudulent encashment of negotiable instruments,… Read more

EFCC recovers N328.9 billion from 9 oil companies

2017-07-28 2:43 PM | by Nigeria Compliancehub

The Economic and Financial Crimes Commission, EFCC, on Wednesday disclosed that it has recovered a total of N328.9 billion from nine major oil marketers within one year.

The disclosure was made by the Spokesman of the commission, Wilson Uwujaren, in a statement in Abuja.

In the statement, he identified the marketers as… Read more

EFCC, Stock Exchange strengthen pact to protect investors

2017-08-14 10:11 AM | by Nigeria Compliancehub

Authorities at the Nigerian Stock Exchange (NSE) and Economic and Financial Crimes Commission (EFCC) have renewed their commitments to a Memorandum of Understanding (MoU) that seeks to protect investors from market abuses and forestall the use of the Nigerian stock market as conduit for illicit wealth.

At a high-level meeting at… Read more

EFCC traces Abuja posh assets to Jonathan’s wife

2017-09-13 10:48 AM | by Nigeria Compliancehub

Two more assets have been traced to former First Lady Patience Jonathan, who is being investigated by the Economic and Financial Crimes Commission (EFCC) for alleged money laundering.

The latest development has brought the number of Mrs. Jonathan’s assets  under investigation to 15.

But the list does not include the six choice… Read more

Money laundering: I want to be in Nigeria for trial — Diezani

2017-10-04 12:38 PM | by Nigeria Compliancehub

Former Minister of Petroleum Resources, Mrs Diezani Allison-Madueke, has expressed  her intention to be joined in a charge before a Federal High Court sitting in Lagos, involving Mr  Dele Belgore, SAN.

Belgore is standing trial before Justice Mohammed Aikawa alongside a former Minister of National Planning, Prof. Abubakar Suleiman, over allegations… Read more