By Charles Pemu 
The House of Representatives has passed for second reading a bill aimed at overhauling the Economic and Financial Crimes Commission (EFCC) to grant it institutional independence and align its operations with modern anti-corruption practices.
The proposed legislation, sponsored by Plateau State lawmaker Yusuf Gagdi, seeks to amend the Economic and Financial Crimes Commission (Establishment) Act, 2004.
A core objective of the bill is to curtail the President’s sole power to remove the EFCC Chairman, a provision currently enshrined in Section 3(2) of the EFCC Act, 2004. The existing law allows the President to remove a member “at any time” for inability to discharge functions, misconduct, or simply if the President is satisfied that it is not in the public interest for the member to continue in office.
Under the proposed amendment, the removal of the EFCC Chairman would require the approval of a two-thirds majority of both the Senate and the House of Representatives before it can take effect.
Gagdi argued that this change is crucial to providing “sufficient guarantees for the independence of the Commission,” which is currently “exposed… to external influence and political interference.”
Leading the debate, Gagdi stated that the 2004 Act operates under outdated provisions that fail to address the expanded scope of modern financial crimes. He noted that since the Act’s enactment, the nature of financial crime has evolved to include:
- Cybercrime
- Cryptocurrency manipulation
- Illicit financial flows
- Terrorism financing
- Real estate-based money laundering
Abia lawmaker and Chairman of the House Committee on Financial Crimes, Ginger Onwusibe, supported the bill, describing the amendment as “long overdue” because many contemporary crimes are not captured in the principal Act.
Gagdi concluded that the bill represents a “decisive step towards strengthening Nigeria’s anti-corruption framework,” which would ultimately restore public confidence, strengthen Nigeria’s global reputation, and promote good governance.