The House of Representatives commends EFCC and NFIU for their role in recovering stolen assets, boosting Nigeria’s financial system, and aiding the country’s exit from the FATF grey list

The House of Representatives has described the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) as pivotal to Nigeria’s financial stability and economic recovery.

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The commendation follows the agencies’ sustained recovery of stolen public assets and Nigeria’s recent exit from the Financial Action Task Force (FATF) grey list, seen as a major boost to the country’s financial credibility.

Mr Ginger Onwusibe, Chairman of the House Committee on Financial Crimes, made the remarks during the 2025 budget performance review and 2026 budget defence at the National Assembly Complex, Abuja.

He said:

“Permit me to commend the EFCC and NFIU for their tireless efforts, particularly Nigeria’s recent delisting from the FATF grey list. This underscores the government’s commitment to combating financial crimes and strengthening our AML/CFT framework.”

Onwusibe highlighted the agencies’ successes, noting that as of October 2025, the EFCC had recovered over ₦566 billion, $411 million, and 1,502 properties, securing 3,175 convictions nationwide.

He emphasized that the NFIU’s financial intelligence has been critical in supporting investigations and prosecutions.

The lawmaker also stressed that effective operations must be guided by professionalism, transparency, and accountability, especially amid rising public demand for tangible anti-corruption results.

He linked the agencies’ work to Nigeria’s broader economic recovery, noting that the 2026 budget prioritizes infrastructure, food security, job creation, human capital development, and macroeconomic stability.

Onwusibe further disclosed that the House is advancing four critical bills to modernize financial crime laws, including amendments to the Money Laundering (Prevention and Prohibition) Act 2022, the EFCC Act 2004, and the Proceeds of Crime Act.

“These bills are designed to modernize our laws, bridge operational gaps, enhance enforcement, and ensure that crime does not pay,” he said, expressing optimism that the legislation will soon receive presidential assent.

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He concluded by assuring that the House would rigorously scrutinize budget submissions from the EFCC and NFIU to ensure optimal use of public funds, strengthen investigative capacity, improve asset recovery, and enhance international cooperation.