Nigeria · Nigeria EFCC
Economic and Financial Crimes Commission (Establishment) Act 2004, as amended
Primary LegislationIn Force
- Issuing authority
- Economic and Financial Crimes Commission (EFCC)
- Effective date
- 2004 amended repeatedly; key amendments through MLPPA 2022
- Scope
- Economic and Financial Crimes Commission (EFCC)
Key requirements
Created EFCC, Nigeria's main law enforcement agency for economic crimes, including money laundering, fraud, advance fee fraud (419), corruption and terrorism financing. EFCC has powers to investigate, arrest, prosecute and recover assets. Houses SCUML (the DNFBP supervisor) and works closely with NFIU on intelligence-led investigations. For compliance teams in Nigeria, EFCC is the agency you're most likely to interact with in a serious AML matter. It's both a source of regulatory pressure and the recipient of intelligence on potentially criminal customers or transactions.