Financial Crime: Reps Committee Pledges Support for EFCC, NFIU
The House of Representatives Committee on Financial Crimes has pledged legislative support for anti-graft agencies to strengthen the combat against financial crimes and secure investors’ confidence in the country.
Chairman of the committee, Rep Ginger Onwusibe (LP-Abia), made the pledge at the 2026 budget defence session with the management of the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU)on Monday in Abuja.
Onwusibe said that the committee was determined to strengthen investigative and prosecutorial capacities of the agencies.
He also said that enhancing international cooperation, information sharing, improving asset recovery and management as well as building capacity and expertise within the agencies against emerging threats, such as cybercrime and virtual assets, was paramount.
According to Onwusibe, the work of the agencies is critical to Nigeria’s economic stability and security.
“Let us ensure they have the necessary resources and support to continue their vital work, while upholding the highest standards of professionalism and accountability.
“As we review the agencies’ budgets, we must acknowledge the critical work they do in protecting Nigeria’s economy and citizens from financial crimes.
“However, we must also ensure their activities are guided by professionalism, transparency and accountability. “This committee will scrutinise its budgets to ensure alignment with legislative priorities and optimal use of resources.
“Let us work together to build a stronger, more transparent and accountable Nigeria in a manner that ensures Nigeria’s financial system is secure and resilient against financial crimes,” he said. In his remarks, the EFCC Chairman, Mr Ola Olukoyede, commended the committee for its continued support.
Olukoyede attributed recent convictions secured by EFCC to the legislative support from the House of Representatives.
He, however, called for improved funding and technologies to enable the commission meet current demands and stay ahead of fraudsters.
Also speaking, the Director of NFIU, Mrs Hafsat Bakare, commended the committee for its unwavering support.
Bakare said that the committee was playing an instrumental role in Nigeria’s exit from the Financial Action Task Force grey list of jurisdictions under increased monetary policy.
She said that Nigeria has also exited the European Union list of high third-world countries with money laundering and terrorist financing.
Bakare explained that the milestones were achieved in synergy with partners and other local and international stakeholders. Nigeria, Egypt Yields Up as African Issuers Face Sell Pressure
