4.4
Objective Four: Fight Against Corruption and Money Laundering
4.4.1 The fight against corruption and money laundering is being pursued
vigorously. The EFCC has cumulatively recovered assets valued over US$11.0
billion and secured over 650 convictions. As part of the efforts to reposition
anti-corruption and anti-money laundering agencies, the Money Laundering
(Prohibition Act 2004) has been revised. The EFCC currently operates the
revised version of the Money Laundering (Prohibition Act) 2011 which
addresses the observed loopholes in the 2004 Act, especially as it relates to
the Nigerian Financial Intelligence Unit (NIFU) and the Special Control Unit,
two units which deal with Designated and Non-Designated Financial
Institutions in Nigeria.
4.4.2 For purposes of strengthening the Commission and providing more interfaces
with the public, some strategic units were created.
These include the
following:
the Transactions Clearing Platform: This enables foreign investors
seek the
EFFC to check out their prospective business partners
here in Nigeria before they formalize their business transactions.
This is an online interface and has saved many investors from being
duped
by some unscrupulous
businessmen. It is done with
assistance from the Corporate Affairs Commission which confirms
or otherwise, the corporate status of such organizations and unveils
the identities of their Directors;
Strategy and Re-Orientation Unit (SARU), is the advocacy arm of
the EFCC which captures every segment of the populace and
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