The House of Representatives has taken a significant step toward reforming Nigeria’s anti-corruption framework with the second reading of a bill seeking to amend the Economic and Financial Crimes Commission (Establishment) Act, 2004.
The bill, sponsored by Hon. Yusuf Adamu Gagdi (APC–Plateau), aims to enhance the institutional independence, operational efficiency, and accountability of the EFCC, ensuring the agency functions free from undue political influence.
Presiding over Thursday’s plenary session, Deputy Speaker Benjamin Kalu oversaw the debate on the proposed legislation titled:
“A Bill for an Act to Amend the Economic and Financial Crimes Commission (Establishment) Act, 2004, and for Related Matters (HB. 2493).”
Gagdi, while leading debate on the bill, argued that the EFCC Act, crafted over two decades ago, has failed to keep pace with the evolving landscape of financial crimes.
“When the EFCC was established in 2004, it gave Nigeria a pioneering legal framework to tackle corruption and financial malfeasance,” Gagdi noted.
“However, the world has changed dramatically since then, with the rise of cybercrime, cryptocurrency-related fraud, illicit financial flows, terrorism financing, and real estate-based money laundering. The Commission currently operates under outdated provisions that no longer address these modern realities.”
He further pointed out that the current Act grants the President broad powers to remove the EFCC chairman, a provision that, in his view, compromises the Commission’s autonomy.
Under Section 3(2) of the existing EFCC Act, the President may remove any member of the Commission at his discretion, including for “inability to discharge the functions of his office or misconduct.”
However, the new amendment proposes that removal of the EFCC chairman must be subject to the approval of two-thirds of both chambers of the National Assembly.
According to Gagdi, this reform will help insulate the EFCC from political manipulation and foster transparency, professionalism, and public trust.
“This amendment represents a decisive move toward strengthening Nigeria’s anti-corruption architecture,” he said.
“By ensuring the EFCC’s operational independence, we promote good governance, economic stability, and greater public confidence in our justice system.”
Supporting the motion, the Chairman of the House Committee on Financial Crimes, Hon. Ginger Obinna Onwusibe, described the move as “long overdue,” adding that many modern financial crimes were unimaginable when the original law was enacted in 2004.
“Our legal instruments must evolve to meet emerging threats,” Onwusibe said.
“This amendment will give the EFCC the institutional backbone it needs to operate effectively in today’s complex financial environment.”
