for financial crimes valued at over $13million. His assets were seized and bank accounts frozen.13
Currently, many ex-governors are under investigation. In 2005 and 2006, the commission recorded 23 and 96 money laundering conviction respectively.
The EFCC is working with other agencies like the judiciary in order to achieve the aims and objectives of the Commission. It has launched a Campaign to revise and improve the laws on miscellaneous offences, advance fee fraud, Evidence Act, regulation of Cyber Cafes etc.
The commission has vehemently challenged the immunity clause in the Nigerian Constitution that protects some Public Office holders from prosecution.
Recent Statistics show that by September 2007, the Commission has secured over 200 convictions.
As stipulated by the EFCC Act, all monies recovered by the Commission are returned directly to the victim of the Crime, be they individuals, corporate bodies or foreign entities. If the victim is the Federal Government, the proceeds go into the Federation Account and if the victims are State or Local Governments, the proceeds go into their respective treasuries. If the victims are from specific Public Agencies, the proceeds go to such specific accounts, thus, if they are from the oil sector, the proceed goes to the Nigerian National Petroleum Commission (now defunct) accounts, if they are from Customs, they go into the Customs account, or to the Inland Revenue Account if the victims are the Inland Revenue Board.
Billions of Naira have been recovered and returned to banks and other Private Commercial Entities. Monies have been returned to victims in places like Brazil, the United States, Britain, and Hong Kong etc. Victims get their recovered monies paid directly back to them, wherever they may be in the World and that is in keeping faith with the law that set up the EFCC. Forfeited Properties are evaluated, managed and disposed off by qualified and respected agents.
Apart from efforts made locally, the Commission along side the Government of Nigeria has partnered with some International Agencies to achieve its goals.
1. In October 2005, the Federal Government of Nigeria inked an agreement with Microsoft to help in identifying and prosecuting Cyber Criminals, create a safe legal environment, and restore hundreds of millions of dollars in lost Investment. The Memorandum of Understanding is the first of its type for both parties.
According to the Executive Chairman of Economic and Financial Crimes Commission, Mallam Nuhu Ribadu: “This agreement will be of great benefit to us, it will put us in the proper direction in fighting Cyber Crime. It will help us to improve our understanding of the technologies involved as well as give us new investigative skills to go after the criminals. They are constantly changing their tactics and we have to constantly keep up. This agreement will help us to do that. And anything that reduces Cyber Crimes in Nigeria will also benefit computer users everywhere, since the crime that starts here doesn’t stop at our boarders”.
“But beyond the impact on our national economy is the impact that this agreement will have on the lives of our citizens. It will improve the quality of people’s lives by reducing the crime around them, enabling them to find better jobs and raising the integrity of Nigeria in the world community. That is what Microsoft is doing for us”. continue ....next page |
