In order to combat economic and financial crimes in Nigeria, the democratic administration of President Olusegun Obasanjo established the EFCC in 2003.
What events led to the creation of the EFCC?
Due to the high prevalence of fraudulent activities, such as money laundering, in Nigeria prior to the creation of the EFCC, Nigeria’s reputation suffered greatly in the eyes of the international community.
When the situation deteriorated to that extent, the Financial Action Task Force on Money Laundering (FATF) exerted pressure and identified Nigeria as one of the twenty-three nations that were uncooperative in the global effort to combat money laundering. In 2003, at this time, the EFCC was created.
The EFCC’s headquarters are in Nigeria’s capital city of Abuja. The first executive chairman of the EFCC was appointed by President Olusegun Obasanjo in April 2003. Nuhu Ribadu was an assistant commissioner of police. Here is a list of every EFCC chairman since the organization’s inception.
Since its inception, the Economic and Financial Crimes Commission (EFCC) has played a significant role in protecting Nigeria from corruption, money laundering, and other related crimes. According to the EFCC’s history, Diepreye Alamieyeseigha, the former governor of Bayelsa State, was one of the officials who was tracked down and detained in 2005. In addition, 31 of Nigeria’s 36 state governors were under investigation by the EFCC for corruption in September 2006.
Obasanjo Olusegun.
Among the notable Nigerians detained by the EFCC are Olisa Metuh, Lawal Jafaru Isa, Emeka Mba, Jide Omokore, Tom Ikimi, and Air Vice Marshal RdotA. Ojuawo, Ricky Tarfa, Bala Ngilari, Sambo Dasuki, Femi Fani-Kayode, Raymond Dokpesi, and Musiliu Obanikoro.
The EFCC’s functions.
All EFCC investigation activities are concentrated in the Operations Department. It has a duty to investigate judicial cases that fall under the purview of the Commission.
Such proceedings involve transgressions of the Commission’s enabling law’s provisions. The main areas of focus for the Operations Department’s work are bank fraud, advance fee fraud, counter-terrorism, economic governance, and general investigation.
