Senate to Probe EFCC Over 2% Deductions from Recovered Funds
The Senate has launched an investigation into the Economic and Financial Crimes Commission (EFCC) over alleged deductions of 2 percent from recovered loot without the approval of the National Assembly.
The resolution followed a motion moved by Senator Emmanuel Memga Udende (APC, Benue North East) during Tuesday’s plenary, which praised the EFCC for its notable strides in the fight against corruption despite financial and operational constraints.
While presenting his motion, Senator Udende revealed that in 2024 alone, the anti-graft agency received 15,724 petitions, investigated 10,928 cases, filed 5,081 charges in court, and secured 4,111 convictions. He added that the EFCC’s recovery efforts had brought in billions of naira, contributing significantly to Nigeria’s revenue base.
However, deliberations took a different turn when Senator Saliu Mustapha (APC, Kwara Central) expressed concern over reports that the EFCC had been deducting 2 percent from recovered funds without legislative consent. He queried whether such deductions had any legal or presidential backing.
Responding, Udende clarified that existing law requires the President to approve such deductions and subsequently present the matter to the National Assembly for ratification.
He admitted, however, that “since the beginning of this Senate, that has not been done, but we are following it up.”
Presiding over the session, Senate President Godswill Akpabio underscored the importance of verifying whether the EFCC had ever sought presidential approval for the deductions. He tasked the relevant committees with reviewing the legal framework that guides such financial practices and ensuring due process is followed.
The Senate subsequently directed its committees on Anti-Corruption and Financial Crimes, as well as Finance, to conduct a thorough probe into the issue.
Lawmakers also pledged to strengthen oversight and provide necessary legislative backing to enhance transparency, accountability, and public confidence in the EFCC and other anti-corruption agencies.
