Money Laundering (Prohibition) Act, 2014
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…
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Economic and Financial Crimes Commission (Establishment) Act 2004
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,…
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Advance Fee Fraud and other Fraud Related Offences Act
This is an Act to Prohibit and punish certain offences pertaining to Advance Fee Fraud and other fraud related offences and to repeal other Acts related therewith.
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Corrupt Practices and Other Related Offences Act
The act seeks to prohibit and prescribe punishment for corrupt practices and other related offences. It establishes an Independent Corrupt Practices and Other Related Offences Commission vesting it with the responsibility for investigation and prosecution of offenders thereof.
EFCC recovers N328.9 billion from 9 oil companies
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…
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EFCC, AMCON to go after bank staff who facilitated bad loans
The Asset Management Corporation of Nigeria (AMCON) says it is collaborating with the Economic and Financial Crimes Commission (EFCC) to check out some banks and its officials who facilitated the huge non-performing loans in AMCON’s portfolio. AMCON made this known in a statement after a meeting with the management of… Read more
EFCC, Stock Exchange strengthen pact to protect investors
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…
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Jonathan, Okojo-Iweala, CJN, Fayemi, Fayose, others under EFCC’s probe
The Economic and Financial Crimes Commission has listed Former President, Goodluck Jonathan;the Chief Justice of Nigeria, Justice Walter Onnoghen; Governor Ayodele Fayose of Ekiti State; his predecessor and the current Minister of Solid Minerals Development, Dr. Kayode Fayemi; and the immediate past Minister of Finance, Dr. Ngozi Okonjo-Iweala, among high-profile…
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We’ve only recovered 15% of Diezani loot - EFCC chairman Magu reveals
The acting chairman of the Economic and Financial Crimes Commission (EFCC) Ibrahim Magu on Thursday, September 7, said the commission has only recovered 15% of the funds allegedly looted by the former minister of petroleum resources Diezani Alison-Madueke.
Magu said the EFCC was currently working with the government of the United…
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Nigeria has ‘failed to address’ issues behind suspension from Egmont group
The Financial Action Task Force (FAFT), a global anti-money laundering and anti-terrorist financing monitoring body, has warned against Nigeria’s “repeated failure” to address issues leading to its suspension from the Egmont group.
TheCable had in July reported the news of Nigeria’s suspension from the group, with a threat of expulsion in…
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EFCC traces Abuja posh assets to Jonathan’s wife
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…
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Money laundering: I want to be in Nigeria for trial — Diezani
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…
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