Reps seek 0.05% of recovered loots for EFCC, 6 months limit for acting chair

A bill seeking to allow the Economic and Financial Crimes Commission to retain a percentage of recovered loots and assets to fund their operations scaled second reading at the House of Representatives Wednesday.

The bill sought an amendment of Section 35 of the EFCC Principal Act to provide that 0.05 per cent of the sums of money and value of assets recovered from looted funds and proceeds of crime are credited to the funds of the commission.

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The sponsor of the bill, Tajudeen Yusuf, said this was to enable the EFCC more effective in the discharge of its responsibilities.

The bill also sought to amend Section 2(3) of the EFCC Principal Act to ensure that an acting chairman of the commission shall only occupy such position for a period not exceeding six months after which his/her appointment would lapse “if he/she is not confirmed by the Senate.”

Also, a bill to expand the scope of persons qualified as EFCC chairman also scalled second reading.

Chairman, House Committee on House Services, Wale Raji, who sponsored the bill, called for the amendment of the EFCC Act 2004 to give priority to persons with recognized financial experience with proved integrity in financial crimes control and passion to fight corruption.