Senate Passes Bill To Reduce EFCC’s Powers

The Economic and Financial Crimes Commission (EFCC) may be stripped of its powers to investigate financial crime offenders if the President eventually gives his assents to the amendment of the Nigerian Financial Intelligence Agency (NFIA) bill passed by the Senate.

The bill was passed after it was read for the third time by the lawmakers but without the usual public hearing organized to consider opinions of concerned parties on the matter.

The Senate had referred the bill to the committee on anti-corruption on Tuesday for review and the committee submitted its report yesterday only for the bill to be unanimously passed today.

The Senate says the bill was given accelerated consideration to help Nigeria avoid expulsion from the Egmont group of Financial Intelligence unit.

UCJ, UNILORIN.