A Bill seeking to amend the Economic Financial Crimes Commission (EFCC) Act 2004 and amongst other things address the existing lacuna in the Act by introducing provision that would limit the time frame within which a person appointed as the chairman of the commission could occupy the position in acting capacity, has passed the second reading in the House of Representatives
The bill, which was sponsored by Hon. Ossai Nicholas Ossai, Hon. Tajudeen Yusuf, Hon. Wale Raji and Hon. Kabiru Tukur also provided that the commission should retain 0.005 per cent of the loot recovered to fund its operations and make them more efficient and effective.
Yusuf said the amendment sought to amend only Section 2 of the EFCC’s Principal Act.
He said: “Section 2 of the Principal Act provided that the Acting Chairman shall only occupy the position of acting Chairman for a period not exceeding six months after which his appointment will lapse if he is not confirmed by the Senate.”