The House of Representatives has passed for second reading a bill seeking to amend the Economic and Financial Crimes Commission (Establishment) Act, 2004, in a move aimed at granting greater institutional independence to the anti-corruption agency. The proposed amendment also seeks to align the EFCC’s operations with global anti-corruption standards and reduce the scope of political interference in its activities.
The bill, sponsored by Yusuf Adamu Gagdi, a lawmaker from Plateau State, was considered during Thursday’s plenary session presided over by the Deputy Speaker, Benjamin Kalu. Gagdi explained that the amendment seeks to modernise the EFCC’s legal framework to address the evolving nature of financial crimes in Nigeria. He noted that since the enactment of the EFCC Act in 2004, the country has witnessed new forms of economic offences, including cybercrime, cryptocurrency manipulation, illicit financial flows, terrorism financing, and real estate-based money laundering.
Currently, the EFCC Act allows the President to remove the Chairman of the Commission at will, without the approval of the National Assembly. Section 3(2) of the Act empowers the President to dismiss any member of the Commission for reasons such as misconduct, inability to perform official duties, or in the public interest. However, the proposed amendment seeks to change that by requiring a two-thirds majority approval of both chambers of the National Assembly before the EFCC Chairman can be removed from office.
According to Gagdi, this reform will help strengthen the EFCC’s independence, enhance public confidence in the agency, and ensure that its leadership is not subject to undue political pressure. He argued that the amendment represents a decisive step toward creating a transparent and professional institution capable of tackling the complex realities of modern financial crimes. “This bill will not only enhance Nigeria’s credibility in the global anti-corruption space but also promote good governance, accountability, and economic stability,” he said.
Supporting the bill, the Chairman of the House Committee on Financial Crimes, Ginger Onwusibe, described the amendment as long overdue. He emphasized that the existing law no longer reflects current realities and needs to be updated to capture emerging threats in the financial system.
Following extensive deliberations, the bill was unanimously passed for second reading and referred to the relevant House committee for further legislative action. Lawmakers and analysts alike have described the development as a potential turning point in Nigeria’s ongoing efforts to strengthen its anti-corruption institutions and reduce executive overreach.
