The House of Representatives has passed a bill seeking to strip the president of the power to remove the Chairman of the Economic and Financial Crimes Commission (EFCC), without recourse to the National Assembly, for the second reading.

The proposed legislation — A Bill for an Act to Amend the Economic and Financial Crimes Commission (Establishment) Act, 2004, and for Related Matters (HB. 2493) — which seeks to insulate the EFCC from political control and align its operations with global anti-corruption standards, was sponsored by Hon. Yusuf Gagdi.

Leading the debate on the general principles of the Bill, Gagdi noted that since the EFCC Act was enacted in 2004, the scope of financial crimes has expanded to include cybercrime, cryptocurrency manipulation, illicit financial flows, terrorism financing and real estate-based money laundering.

He added that the amendment aimed at modernising EFCC’s legal framework and ensuring it effectively responds to the growing complexity of financial and economic crimes in Nigeria.

Gagdi argued that the anti-graft agency operates under outdated provisions that do not adequately address these new realities.

He emphasised that the existing Act does not provide sufficient guarantees for the independence of the commission, exposing it to external influence and political interference.

Gagdi stated: “One of the major amendments is the proposal to reduce the president’s power to remove the EFCC chairman, which, under the current Act, can be done at the president’s discretion for inability to discharge the functions of his office or for misconduct.

“Section 3(2) of the EFCC Act 2004 provides for the condition of removal of EFCC chairman.

“A member of the commission may at any time be removed by the president for inability to discharge the functions of his office (whether arising from infirmity of mind or body or any other cause) or for misconduct or if the president is satisfied that it is not in the interest of the commission or the interest of the public that the member should continue in office.

“But under the proposed amendment, the lawmaker said the removal of the EFCC chairman would require the approval of two-thirds majority of both the Senate and the House of Representatives.”

Gagdi stressed that the proposed legislation would restore public confidence, enhance transparency, and ensure the EFCC operates as a professional and independent body responsive to modern realities.

He noted that the bill presents a decisive step towards strengthening Nigeria’s anti-corruption framework.

He said the Bill also seeks to ensure that EFCC operates as an independent, professional and transparent institution that is responsive to modern financial crime realities.

“This amendment will not only ensure Nigeria’s global repetition, but also promote good governance, economic stability and public confidence in the fight against corruption,” he said. (THISDAY)