Among the issues slowing down the development of Nigeria are corruption, money laundering, and intellectual property crimes. If you know someone you should report for such crimes, you need to know the meaning of EFCC. EFCC is an acronym for the Economic and Financial Crimes Commission.
It is important for all patriotic Nigerian citizens to understand the meaning of EFCC and its functions. This commission handles economic and financial crimes in the country.
Meaning of EFCC
EFCC stands for the Economic and Financial Crimes Commission in Nigeria. Its vision is to eliminate economic and financial crimes in Nigeria.
It does this through taking prevention, enforcement and coordination measures. The commission's ultimate goal is to create a country free of economic and financial crimes.
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When was EFCC established?
The commission was established in 2003 to combat financial and economic crimes. It is empowered to prevent, investigate, prosecute, and penalise economic and financial crimes in the country.
It enforces various laws and provisions, as guided by the following Acts of Parliament.
- The 2004 Economic and Financial Crimes Commission Establishment Act
- The 1994 Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act
- The 1995 Money Laundering Act
- The 1991 Banks and other Financial Institutions Act
- The 2004 Money Laundering (Prohibition) Act
- The 1995 Advance Fee Fraud and Other Fraud-Related Offences Act
- The Miscellaneous Offences Act
Departments in EFCC
The commission is divided into four, as explored below.
The Enlightenment and Re-orientation Unit
The The Enlightenment and Re-orientation Unit is in charge of executing public education by sensitising people about the commission's mandate.
Media and Publicity Unit
The Media and Publicity Unit disseminates information on the commission's activities to various stakeholders. It uses various mass media platforms, including electronic, print, and social media, to communicate with the public.
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Public Interface Unit
This unit communicates and engages the public through online and offline interfaces. It manages the commission’s website and establishes a good public image of the commission.
Media Academy Unit
The Media Academy Unit trains media and public relations officers. It educates and sensitises people about the sister anti-corruption agencies across the globe.
Duties of the units
The four units explored above play the following duties.
- Adopting measures to eradicate the commission of economic and financial crimes
- Taking coordinated preventive and regulatory actions, introducing and maintaining investigative and control techniques on the prevention of economic and financial-related crimes
- Conducting and sustaining thorough public sensitisation campaigns against economic and financial crimes within and outside the nation
Who is the sitting EFCC chairman in 2022?
The sitting executive chairman is Abdulrasheed Bawa. He was appointed for the role on 16th February 2021 and confirmed on 24th February 2021.
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Bawa is the commission's fourth chair and the youngest to occupy the seat. He has handled cases leading to the recovery of big assets for the Federal Government of Nigeria.
Contact details
If you wish to contact EFCC, use the contact details below.
What is the full name of EFCC?
EFCC stands for the Economic and Financial Crimes Commission. It was established to eradicate crimes such as corruption, money laundering, and intellectual property offences.
What is the full meaning of EFCC in Nigeria?
The full meaning of EFCC is the Economic and Financial Crimes Commission.
What is the full meaning of EFCC and ICPC?
EFCC stands for the Economic and Financial Crimes Commission, while ICPC stands for the Independent Corrupt Practices & Other Related Offences Commission. The latter is mandated to prohibit and prescribe punishment for corrupt behaviour and other related offences.
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What is the full meaning of EFCC and NAFDAC?
EFCC means the Economic and Financial Crimes Commission, while NAFDAC means the National Agency for Food and Drug Administration and Control in Nigeria. The latter regulates and controls the manufacture, importation, exportation, distribution, advertisement, sale and use of regulated products.
What is the meaning of EFCC and NDLEA?
EFCC means the Economic and Financial Crimes Commission, while the National Drug Law Enforcement Agency. NDLEA is in charge of drug policy and control in Nigeria.
What is the role of EFCC and ICPC in Nigeria?
The role of EFCC is to investigate and resolve economic and financial crimes, e.g. advance fee fraud. On the other hand, the ICPC prohibits and prescribes punishment for people accused of corruption and other related offences.
Where is EFCC located in Nigeria?
The headquarters are located in Plot 301/302, Research and Institutions District, Abuja, Nigeria. The commission also has offices in other states in the country.
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How do I report someone to EFCC?
You can report someone to EFCC by writing a letter to the commission, through the official social media platforms, or by signing an online petition via the EagleEye website. You can also report via the EagleEye app.
Understanding the meaning of EFCC is important for all Nigerians. The commission was established to deal with economic and financial offences.
READ ALSO: How to register for NHIS in Nigeria: Comprehensive guide
Legit.ng recently published a guide on NHIS registration in Nigeria. Nigeria has high medical costs, and health insurance is recommended because it protects citizens from hefty unprecedented hospital bills.
The government established the National Health Insurance Scheme (NHIS) to help with high medical costs. Every citizen is eligible.
Source: Legit.ng
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