Reported by: Oahimire Omone Precious | Edited by: Henry Owen
The House of Representatives has taken a major step toward strengthening the independence of the Economic and Financial Crimes Commission (EFCC) with a new bill that seeks to limit the President’s power to remove the Commission’s Chairman.
The bill, sponsored by Hon. Yusuf Adamu Gagdi (APC, Plateau), scaled its second reading on the floor of the House on Thursday. It proposes an amendment to the EFCC (Establishment) Act of 2004, introducing new measures to shield the anti-graft agency from political interference and align it with international standards.
Under the current law, the President can dismiss the EFCC Chairman at will, citing reasons such as misconduct or incapacity. However, the new amendment would require a two-thirds majority approval from both chambers of the National Assembly before such a removal could take effect — a move lawmakers believe will ensure greater accountability and independence.
Leading the debate, Hon. Gagdi argued that the reform is long overdue, noting that the EFCC’s founding law no longer reflects the realities of modern financial crimes. He said the amendment aims to equip the Commission to better handle emerging threats such as cybercrime, cryptocurrency-related fraud, and terrorism financing.
“Since 2004, the landscape of financial crime has evolved rapidly, yet the legal framework guiding the EFCC remains outdated,” Gagdi said. “This bill seeks to strengthen the institution’s autonomy and restore public trust by insulating it from undue political control.”
The lawmaker further stressed that the proposed changes will enhance Nigeria’s global image in anti-corruption efforts while promoting good governance and economic stability.
“This amendment will not only ensure Nigeria’s global reputation but also promote transparency and public confidence in the fight against corruption,” he added.
The bill has been referred to the relevant committee of the House for further legislative consideration and report.
📰 Stone Reporter News
🌍 stonereportersnews.com | ✉️ info@stonereportersnews.com
📘 Facebook: Stone Reports | 🐦 X (Twitter): @StoneReportNew | 📸 Instagram: @stonereportersnews
Add comment
Comments