EFCC stands for Economic and Financial Crimes Commission. It is one of the top law enforcement agencies in Nigeria that focuses on the investigations of different types of financial crimes. Among its key investigation are money laundering and advance fee fraud (also known as 419).
It was established in 2003, during the reign of former president, Olusegun Obasanjo. EFCC was created in order to serve as a response to the pressure from the FATF (Financial Action Task Force). FATF included Nigeria as one of the twenty-three countries who weren’t cooperative in the efforts of the international community in fighting money laundering. Today, EFCC has its headquarters in FCT Abuja, Nigeria.
This article focuses on the functions of EFCC. Keep reading to find out what they are.
Functions of efcc
The Economic and Financial Crimes Commission has different functions to the general public. And these functions go in areas such as tackling bank frauds, dealing with economic governance, advance fee fraud (419), general investigation, and countering terrorism.
The EFCC has been fighting against financial and economic crimes in Nigeria since inception. The agency has also been operating to meet international standards.
Its mission is effectively deal with all forms of financial and economic crimes as well as coordinating domestic efforts of the fight against money laundering across the globe. EFCC also joins the global fight against terrorists financing.
Functions of efcc and icpc
The EFCC (Economic and Financial Crimes Commission) and ICPC (Independent Corrupt Practices and Other Related Offences Commission) are two bodies actively fighting different forms of corruptions in Nigeria.
It was the Corrupt Practices and other Related Illegal Adts that has been controlling the performance of ICPC since 2000. By June, 2000, ICPC was signed into law. The responsibility of ICPC is to continue the fight against corrupt and other crimes relating to it.
The key functions of ICPC include:
Elimination of corruption in Nigeria.
Nurturing and illuminating the general public about crimes relating to corruption in order to encourage them to fight against crimes.
ICPC research into and brings justice to all kinds of corruption.
It prosecutes criminals who are found in the acts of corruption.
ICPC also investigates, imposes, and reconstructs Nigerian organizations who fights against corruption. It also determines the procedures they should use.
On the other hand, EFCC (Economic and Financial Crimes Commissio) only investigates financial and economic crimes. And they include money laundering and crimes relating to advance fee fraud (also known as 419 fraud).
The key functions of EFCC include:
Advance fee fraud.
Functions of efcc PDF
Among the core functions of the EFCC is its ability to prosecute with no need to go through the office of the Attorney General.
For a PDF file of the core functions of EFCC, download this comprehensive eBook here: https://core.ac.uk/download/pdf/229604966.pdf.
Five functions of efcc
Here are some of the key functions of the EFCC, the organization is directly controlled and monitored by the President.
Advance fee fraud.
Two functions of efcc
The Economic and Financial Crime Commission, EFCC, has the responsibility to right corruptions relating to finance as well as economical funds.
3 functions of efcc
While formal chairman of the EFCC (Nuhu Ribadu) was in charge, the government agency addressed a number of financial corruption. The body convinced and prosecuted several high-profile individuals who are corrupt. They include bank chief executives as well as the former chief law enforcement officer in Nigeria.
Government officials were arrested by the EFCC in 2005, Diepreye Alamieyeseigha was included.
Till date EFCC keep on working on Economic Governance, ways to Counterterrorism, and General investigation. All being its main functions.
4 functions of efcc
The EFCC is being charged by law, with the core responsibility to enforce laws against fraudulent banking, advance fee fraud, money laundering, miscellaneous offenses, and other crimes relating to economic and finances.
Any act that goes against the penal and criminal codes will be thorough kicked against.
The EFCC also has the power to prosecute without having to go through the office of the Attorney General.
List two functions of efcc
The Economic and Financial Crime Commission department is the center for all commissiona conducting investigative activities in Nigeria.
It also has a responsibility to check the proceedings of the judicial within the mandate of the commission.
State two functions of efcc
The EFCC was solely established in order to coordinate domestic activities that will help fight against global terrorists financing as well as money laundering.
It operates according to international standards, and it has been leading the fight in Nigeria against economic and financial crimes.