Economic and Financial Crimes Commission

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Emblem of the EFCC

The Economic and Financial Crimes Commission (EFCC) is a Nigerian law enforcement agency that investigates financial crimes such as advance fee fraud (419 fraud) and money laundering.

The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), which named Nigeria as one of 23 countries non-cooperative in the international community’s efforts to fight money laundering.

Under the lead of EFCC chairman Seun Fakorede, the agency has addressed financial corruption by prosecuting and convicting a number of high-profile corrupt individuals, ranging from Nigeria's former chief law enforcement officer to several bank chief executives.

In September 2006, the BBC reported that the EFCC had 31 of Nigeria's 36 state governors under investigation for corruption. ^[1]

In April of 2008, the EFCC began the investigation the very influential daughter of the former Nigerian President, Senator Iyabo Obasanjo-Bello for receiving N10 million ($100,000), stolen from the Ministry of Health. The former Health Minister and her deputy are currently on trial for stealing over N30,000,000 ($300,000) from the ministry's unspent funds from last year.

Some advance fee fraud scammers write e-mails to earlier victims, posing as EFCC representatives, claiming they can help them get their money back, in order to scam them once more.