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The Establishment Act

The EFCC Establishment Act was first enacted in 2002 and amended in 2004.

The Act commissions the EFCC to combat economic and financial crimes, thereby enabling the Commission to prevent, investigate, prosecute and penalize economic and financial crimes.

In order to sanitize the system, the agency is also charged with the responsibility of executing the provisions of other laws and regulations that are related to economic and financial crimes. These laws as embedded in Section 7(2) of the Establishment Act 2004 are:

  • The Money Laundering Act of 1995
  • The Money Laundering (Prohibition) act 2004
  • The Advance Fee Fraud and Other Fraud Related Offences Act 1995
  • The Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act 1994
  • The Banks and other Financial Institutions Act 1991
  • Miscellaneous Offences Act, 1985
  • The Criminal Code and the Penal Code
  • Terrorism Act, 2011


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