THE House of Representatives has passed for second reading a bill seeking to amend the Economic and Financial Crimes Commission (Establishment) Act, 2004, in a move aimed at limiting presidential control over the leadership of the anti-graft agency and strengthening its institutional independence.
News Point Nigeria repots that the bill, sponsored by Hon. Yusuf Gagdi, representing Pankshin/Kanke/Kanam Federal Constituency of Plateau State, was taken for consideration during Thursday’s plenary session presided over by Deputy Speaker Benjamin Kalu.
If passed into law, the amendment will alter key provisions of the EFCC Act to ensure greater operational autonomy for the Commission, insulate it from political interference, and align its functions with international anti-corruption standards.
Leading the debate on the bill, Gagdi explained that the proposed amendment seeks to modernise the EFCC’s legal framework to reflect the evolving nature of financial and economic crimes in Nigeria and globally.
He noted that since the original Act was enacted over two decades ago, the financial crime landscape has changed dramatically, with the emergence of cybercrime, cryptocurrency manipulation, terrorism financing, illicit financial flows, and real estate-based money laundering.
“The EFCC operates under outdated provisions that do not adequately address these new realities,” he said.
“Furthermore, the existing Act does not provide sufficient guarantees for the independence of the Commission, exposing it to external influence and political interference.”
One of the major highlights of the proposed amendment is a clause that seeks to curtail the President’s unilateral power to remove the EFCC Chairman.
Under Section 3(2) of the current EFCC Act, the President can remove the EFCC Chairman or any member of the Commission at his discretion for reasons ranging from misconduct to “public interest.”
However, the amendment proposes that such removal can only take effect with the approval of a two-thirds majority of both chambers of the National Assembly.
According to Gagdi, this reform will safeguard the EFCC’s leadership from arbitrary dismissals and political victimisation, while also enhancing accountability and public trust.
Gagdi described the bill as a “decisive step” towards institutionalising transparency and professionalism within the EFCC.
He said, “The amendment seeks to ensure that the EFCC operates as an independent, professional, and transparent institution that is responsive to modern financial crime realities. It will strengthen Nigeria’s global reputation and promote good governance, economic stability, and public confidence in the fight against corruption.”
Supporting the motion, Chairman of the House Committee on Financial Crimes, Hon. Ginger Onwusibe, described the bill as timely and necessary.
He said many new forms of financial and cyber-related crimes that have emerged in recent years were not envisaged when the EFCC Act was first passed in 2004.
“The amendment is long overdue. The Commission needs a modern legal framework to tackle evolving corruption trends effectively,” Onwusibe said.
If passed into law, the amendment could significantly reshape the governance structure of Nigeria’s foremost anti-corruption agency, granting it a higher degree of autonomy similar to global anti-corruption models in countries like Singapore, Indonesia, and Hong Kong.