Emblem of the EFCC

The Economic and Financial Crimes Commission (EFCC) is a Nigerian law enforcement agency that investigates financial crimes such as advance fee fraud (419 fraud) and money laundering. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... An advance fee fraud is a confidence trick in which the target is persuaded to advance relatively small sums of money in the hope of realizing a much larger gain. ... Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source and destination of the money in question. ...

The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), which named Nigeria as one of 23 countries non-cooperative in the international community’s efforts to fight money laundering. The Financial Action Task Force on Money Laundering (FATF), also known by the French name Groupe daction financière sur le blanchiment de capitaux (GAFI), is an inter-governmental body founded in 1989 by the G8. ...

Under the lead of EFCC chairman Nuhu Ribadu, the agency has addressed financial corruption by prosecuting and convicting a number of high-profile corrupt individuals, ranging from Nigeria's former chief law enforcement officer to several bank chief executives. EFCC Executive Chairman Nuhu Ribadu Mallam Nuhu Ribadu (born November 11, 1960) is the Executive Chairman of Nigerias Economic and Financial Crimes Commission (EFCC). ...

In September 2006, the BBC reported that the EFCC had 31 of Nigeria's 36 state governors under investigation for corruption.

Sources

• Nigeria’s struggle with corruption, presented by the chairman of the EFCC to the US Congressional House Committee on International Development
• Banks take a breath of fresh air as FATF gives clean bill of health
• Nigeria arrests runaway governor, BBC

The British Broadcasting Corporation, usually known as the BBC, is the largest broadcasting corporation in the world in terms of audience numbers, employing 26,000 staff in the United Kingdom alone and with a budget of more than GB£4 billion. ...

External links

• EFCCNigeria.org