The House of Representatives has passed for second reading a bill seeking to amend the Economic and Financial Crimes Commission (Establishment) Act, 2004, to confer institutional independence on the anti-corruption agency.
Yusuf Gagdi, a legislator from Plateau State, sponsored a bill that was discussed during the House’s plenary on Thursday.
The proposed legislation aims to match the EFCC’s operations with international anti-corruption best practices and shield it from political influence, among other things.
Leading the discussion of the bill’s general principles at a session chaired by Deputy Speaker Benjamin Kalu, Gagdi stated that the amendment seeks to update the EFCC’s legal framework so that it can address the complex patterns of financial and economic crimes that exist throughout the nation.
He pointed out that since the EFCC Act was passed in 2004, cybercrime, cryptocurrency manipulation, illicit financial flows, sponsorship of terrorism, and money laundering based on real estate have all been added to the list of financial crimes.
Under the existing Act, the President does not require the approval of the National Assembly to remove the Chairman of the anti-graft body.
“The EFCC operates under outdated provisions that do not adequately address these new realities,” Gagdi said. “Furthermore, the existing Act does not provide sufficient guarantees for the independence of the Commission, exposing it to external influence and political interference.”
One of the proposed changes is to limit the President’s authority to remove the EFCC Chairman, which is now possible at the President’s sole discretion.
Gagdi pointed out that in order for the proposed change to be implemented, the removal of the EFCC Chairman would need the consent of a two-thirds majority in both the Senate and the House of Representatives.
He claimed that if the modification is approved, it will contribute to rebuilding public trust in the anti-graft agency.
He said, “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 strengthen Nigeria’s global reputation but also promote good governance, economic stability, and public confidence in the fight against corruption.”
Additionally, Ginger Onwusibe, the chairman of the House Committee on Financial Crimes and a member from Abia, stated in his contribution that the amendment was long overdue and that many modern financial crimes were not covered by the main Act.
The bill was sent to the appropriate House committee for additional legislative action after being unanimously approved for second reading.
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