ECONOMIC AND FINANCIAL CRIMES COMMISSION (ESTABLISHMENT) ACT, NO.1 2004.

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LAWS OF THE FEDERATION OF NIGERIA  

ECONOMIC AND FINANCIAL CRIMES COMMISSION (ESTABLISHMENT) ACT, NO.1 2004.

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EXPLANATORY MEMORANDUM

This Act [which repeals the Economic and Financial Crimes Commission (Establishment) Act, 2002] establishes the Economic and Financial Crimes Commission as the body charged with the responsibility of co-ordinating the various institutions involved in the fight against money laundering and enforcement of all laws dealing with economic and financial crimes in Nigeria.

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ARRANGEMENT OF SECTIONS

1. Establishment of the Economic and Financial Crimes Commission.
2. Composition of the Commission.
3. Tenure of Office.
4. Vacancy in Membership.
5. Standing orders
6. Functions of the Commission.
7. Special Power of the Commission.
8. Appointment of Secretary and other staff of the commission.
9. Staff Regulations.
10. Pensions Act Cap. 346, Laws of the Federation 1990.
11. Training Programme.
12. Establishment of Special Units, etc.
13. Special Duties of the Units.
14. Offences relating to financial malpractices.
15. Offences in relation to terrorism.
16. Offences relating to false information
17. Retention of proceeds of a criminal conduct.
18. Offences in relation to economic and financial crimes and penalties.
19. Jurisdiction and special powers of court
20. Forfeiture after conviction in certain cases.
21. Forfeiture of property.
22. Foreign Assets.
23. Forfeiture of Passports.
24. Property subject to Forfeiture.
25. Further provisions as to forfeiture of property.
26. Seizure of property.
27. Disclosure of assets and properties by arrested persons, etc. schedule.
28. Investigation of assets and properties of a person arrested of an offence under this act etc.
29. Interim forfeiture order.
30. Final order.
31. Final disposal of forfeited property.
32. Offences in relation to forfeiture orders.
33. Consequences of an acquittal in respect of assets and properties.
34. Freezing order on banks or other financial institutions.
35. Funds of the commission.
36. Accounts and audits.
37. Annual report.
38. Power to receive information without hindrance etc.
39. Protecting informants and information, etc and penalty for false information
40. Appeals against interlocutory ruling etc.
41. Appeals against interlocutory rulings, etc.
42. Immunities
43. General savings
44. Regulations
45. Repeal of Act No.5, 2002
46. Savings
47. Interpretation
48. Short title

Schedule.

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ECONOMIC AND FINANCIAL CRIME COMMISSION (ESTABLISHMENT

[Commencement]            –        [4th June 2004]

ALPHABETICAL INDEX TO THE LAWS OF NIGERIA (UPDATED TO 2018)