Economic and Financial Crimes Commission

Economic and Financial Crimes Commission
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Common nameThe EFCC
AbbreviationEFCC
Agency overview
Formed2003; 21 years ago (2003)
Jurisdictional structure
Operations jurisdictionNigeria
Legal jurisdictionEconomic and financial crimes
Governing bodyPresident of Nigeria
Constituting instrument
  • EFCC Establishment Act 2004
Specialist jurisdiction
  • Serious or complex fraud, commercial crime, fraud covering multiple lower level jurisdictions.
Operational structure
HeadquartersPlot 301/302,
Institution and Research Cadastral District,
Jabi,
Abuja,
Federal Capital Territory
Agency executive
Website
https://www.efcc.gov.ng

The Economic and Financial Crimes Commission (EFCC) is a Nigerian law enforcement and anti-graft agency that investigates financial crimes and unknown transactions such as advance fee fraud (419 fraud) and money laundering.[1] The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF),[2] which named Nigeria as one of 23 countries non-cooperative in the international community's efforts to fight money laundering.[1] The agency has its head office in Abuja, Nigeria. The EFCC was also set up to fight against corruption and protect the country from economic saboteurs.

  1. ^ a b "The Establishment Act". Economic and Financial Crimes Commission. 2008. Archived from the original on 2008-01-30. Retrieved 2007-05-17.
  2. ^ Kenton, Will. "Financial Action Task Force (FATF)". Investopedia. Retrieved 2020-05-30.