Graft: EFCC to probe ill-gotten wealth

By Emma Ovuakporie

ABUJA—The Economic and Financial Crimes Commission, EFCC, has set up a team to investigate properties and assets whose means of acquisition cannot be explained by their owners as part of efforts to intensify the fight against graft and stem the tide of money laundering in the country.      The anti-graft agency’s boss, Mrs Farida Waziri gave the hint yesterday while receiving Senator Smart Adeyemi, who was on a visit to the EFCC.

“While we expect the passage of our assets forfeiture bill by the National Assembly, we have decided to make use of Section 7 of the EFCC Establishment Act to go for the assets of the corrupt. As a result, I have just constituted a team that will henceforth go out to identify properties whose means of acquisition cannot be explained by their owners. We promise they will forfeit them to government”, Waziri vowed.

“Section 7 (1) (b) of EFCC Establishment Act states that the Commission has power to “cause investigation to be conducted into properties of any person if it appears to the Commission that the person’s lifestyle and extent of the properties are not justified by his source of income”, she said.

Waziri noted that the level of corruption in Nigeria coupled with the urgent need to develop the nation deserve that drastic actions be taken to address the menace.