The House of Representatives has taken a significant step toward strengthening Nigeria’s anti-corruption framework by passing for second reading a bill seeking to amend the Economic and Financial Crimes Commission (Establishment) Act, 2004.
The proposed amendment, sponsored by Plateau State lawmaker, Yusuf Gagdi, was considered during Thursday’s plenary session presided over by Deputy Speaker Benjamin Kalu.
It aims to grant institutional independence to the EFCC and align its structure with global best practices in combating corruption.
Leading the debate, Gagdi said the amendment was designed to modernise the EFCC’s legal framework and equip it to address emerging forms of economic and financial crimes.
“The EFCC operates under outdated provisions that do not adequately address these new realities.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,” he said.
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He explained that since the EFCC Act was enacted in 2004, financial crimes have evolved to include cybercrime, cryptocurrency manipulation, illicit financial flows, terrorism financing, and real estate-based money laundering.
One major change proposed by the bill would require a two-thirds majority approval of both the Senate and the House of Representatives before the President can remove the EFCC Chairman.
Gagdi 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.”
Backing the proposal, Abia lawmaker and Chairman of the House Committee on Financial Crimes, Ginger Onwusibe, said the amendment was long overdue, adding that it would enable the EFCC to respond effectively to modern corruption challenges.
The bill was unanimously passed for second reading and referred to the relevant committee for further legislative action.