EFCC Establishment Act 2024

ECONOMIC AND FINANCIAL CRIMES COMMISSION
(ESTABLISHMENT) ACT 2004

ARRANGEMENT OF SECTIONS

SECTION:

1. Establishment of the Economic and Financial Crimes Commission.
2. Composition of the Commission.
3. Tenure of office.
4. Vacancy in Membership
5. Standing Orders
6. Functions of the Commission.
7. Special powers of the Commission.
8. Appointment of the Secretary and other staff of the Commission.
9. Staff Regulations.
10. Pensions Act Cap 346 Laws of the Federation.
11. Training Programme.
12. Establishment of special units, etc.
13. Special duties of the Units.
14. Offences relating to financial malpractices.
15. Offences in relation to terrorism.
16. Offences relating to false information
17. Retention of proceeds of a criminal conduct.
18. Offences in relation to economic and financial crimes and penalties.
19. Jurisdiction and Special Powers of the Court.
20. Forfeiture after conviction in certain cases.
21. Forfeited property.
22. Foreign Assets.
23. Forfeiture of Passport.
24. Property subject to forfeiture.
25. Further provisions as to forfeiture of property.
26. Seizure of property.
27. Disclosure of assets and properties by an arrested person, etc.
28. Investigation of Assets and Property Of A Person Arrested of an offence under
    this act
29. Interim forfeiture order.
30. Final order.
31. Final disposal of forfeited property.
32. Offences in relation to forfeiture orders.
33. Consequences of an acquittal in respect of assets and properties.
34. Freezing order on bank or other financial institutions
35. Funds of the Commission.
36. Accounts and Audits.
37. Annual Report.
38. Power to receive information without hindrance etc
39. Protecting informants and information, etc and penalty for false information
40. Appeals against interlocutory rulings
41. Immunities
42. General Savings
43. Regulations
44. Repeal of Act No. 5 2002
45. Savings
46. Interpretation
47. Short Title.

Schedule.

ECONOMIC AND FINANCIAL CRIMES COMMISSION
(ESTABLISHMENT) ACT 2004

A BILL
FOR
AN ACT TO REPEAL THE FINANCIAL CRIMES COMMISSION (ESTABLISHMENT) ACT, 2002 AND ENACT THE FINANCIAL CRIMES COMMISSION (ESTABLISHMENT) ACT, 2004; AND FOR MATTER CONNECTED THEREWITH

[
Commencement

ENACTED by the National Assembly of the Federal Republic of Nigeria –

PART I - ESTABLISHMENT OF THE ECONOMIC AND
FINANCIAL CRIMES COMMISSION, ETC

[

1: (1) There is established a body to be known as the Economic and Financial Crimes Commission (in this Act referred to as “the Commission”) which shall be constituted in accordance with and shall have such functions as are conferred on it by this Act. There is established a body to be known as the Economic and Financial Crimes Commission (in this Act referred to as "the Commission") which shall be constituted in accordance with and shall have such functions as are conferred on it by this Act. (2) The Commission - Establishment of the Economic and Financial Crimes Commission

a. shall be a body with perpetual succession and a common seal

b. may sue or be sued in its corporate name and may, for the purpose of its function Commission acquire, hold or dispose of property (whether movable or immovable);

C. is the designated Financial Intelligence Unit (FIU) in Nigeria, which is charged
with the responsibility of co-ordinating the various institutions involved in the fight against money laundering and enforcement of all laws dealing with economic and financial crimes in Nigeria.

2: (1) The Commission shall consist of the following members - The Commission shall consist of the following members -

(a) a chairman, who shall -

be the Chief Executive and Accounting Officer of the Commission.

(ii)

(iii) be a serving or retired member of any government security or law enforcement agency not below the rank of Assistant Commissioner of Police or equivalent; and Possess not less than 15 years cognate experience

(b) the Governor of the Central Bank or his representative; and

(c) a representative each of the following Federal Ministries Composition of the Commission

(i)

(ii)

Foreign Affairs,
Finance,
(iii) Justice,

(d) the Chairman National Drug Law Enforcement Agency or his representative;

(e) the Director General of –

(i) the National Intelligence Agency,

(ii) the Department of State Security Services or his representative;

(f) the Registrar-General of the Corporate Affairs Commission or his Representative;

(g) the Director-General, Securities and Exchange Commission or his representative;

(b) the Managing- Director, Nigeria- Deposit Insurance Corporation or his representative

the Commissioner for Insurance or his representative;

(j) the Postmaster-General of the Nigerian Postal Services or his representative;

(k) the Chairman, Nigerian Communications Commission or his representative;

(1) the Comptroller-General, Nigeria Customs Services or his representative;

(m) the Comptroller-General Nigeria Immigration Services or his representative;

(n) a Inspector General of Police or his representative

(0) four eminent Nigerians with cognate experience in any of the following, that is finance, banking or accounting; and

(p) the Secretary to the commission who shall be the head of administration

(2) The members of the Commission, other than the Chairman and the Secretary shall be part time members

(3) The Chairman and members of the Commission other than ex-officio members shall be appointed by the President and appointment shall be subject to the confirmation of the Senate.

3: (1) The Chairman and members of the Commission other than ex-officio members shall hold office for a period of four years and may be re-appointed for a further term of four years and no more Tenure of Office

(2) A member of the Commission may at any time be removed by the President for inability to discharge the functions of his office (whether arising from infirmity of mind or body or any other cause) or for misconduct or if the President is satisfied that it is not in the interest of the Commission or the interest of the public that the member should continue in office.

(3) A member of the Commission may resign his membership by notice in writing addressed to the President and that member shall, on the date of the receipt of the notice by the President, cease to be member

4: Where a vacancy occurs in the membership of the Commission, it shall be filled by the appointment of a successor to hold office for the remainder of the term of office of his predecessor, so however that the successor shall represent the same interest as his predecessor. Vacancy in membership

5: The Commission may take standing orders from regulating its proceedings or those of any of its committees Standing Orders

6:
PART II - FUNCTIONS OF THE COMMISSION
The Commission shall be responsible for -
Functions of the
Commission

(a) the enforcement and the due administration of the provisions of this Act;

(b) the investigation of all financial crimes including advance fee fraud, money laundering, counterfeiting, illegal charge transfers, futures market fraud, fraudulent encashment of negotiable instruments, computer credit card fraud, contract scam, etc.;

(c) the co-ordination and enforcement of all economic and financial crimes laws and enforcement functions conferred on any other person or authority;

(d) the adoption of measures to identify, trace, freeze, confiscate or seize proceeds derived from terrorist activities, economic and financial crimes related offences or the properties the value of which corresponds to such proceeds;

(e) the adoption of measures to eradicate the commission of economic and financial crimes;

(f) the adoption of measures which includes coordinated preventive and regulatory actions, introduction and maintenance of investigative and control techniques on the prevention of economic and financial related crimes;

(g) the facilitation of rapid exchange of scientific and technical information and the conduct of joint operations geared towards the eradication of economic and financial crimes;

(h) the examination and investigation of all reported cases of economic and financial crimes with a view to identifying individuals, corporate bodies or groups involved;

(i) the determination of the extent of financial loss and such other losses by government, private individuals or organizations;

(j) collaborating with government bodies both within and outside Nigeria carrying on functions wholly or in part analogous with those of the Commission concerning -

(i) the identification, determination, of the whereabouts and activities of persons suspected of being involved in economic and financial crimes,

(ii) the movement of proceeds or properties derived from the commission of economic and financial and other related crimes;

(iii) the exchange of personnel or other experts,

(iv) the establishment and maintenance of a system for monitoring international economic and financial crimes in order to identify suspicious transactions and persons involved,

(v) maintaining data, statistics, records and reports on person, organizations, proceeds, properties, documents or other items or assets involved in economic and financial crimes;

(vi) undertaking research and similar works with a view to determining the manifestation, extent, magnitude, and effects of economic and financial crimes and advising government on appropriate intervention measures for combating same

7: (1)
(k) dealing with matters connected with the extradition, deportation and mutual legal or other assistance between Nigeria and any other country involving Economic and Financial Crimes;

(1) The collection of all reports relating suspicious financial transactions, analyse and disseminate to all relevant Government agencies;

(m) taking charge of, supervising, controlling, coordinating all the responsibilities, functions and activities relating to the current investigation and prosecution of all offenses connected with or relating to economic and financial crimes;

(n) the coordination of all existing economic and financial crimes, investigating units in Nigeria;

(o) maintaining a liaison with office of the Attorney-General of the Federation, the Nigerian Customs Service, the Immigration and Prison Service Board, the Central Bank of Nigeria, the Nigeria Deposit Insurance Corporation, the National Drug Law Enforcement Agency, all government security and law enforcement agencies and such other financial supervisory institutions in the eradication of economic and financial crimes;

(p) carrying out and sustaining rigorous public and enlightenment campaign against economic and financial crimes within and outside Nigeria and;

(q) carrying out such other activities as are necessary or expedient for the full discharge of all or any of the functions conferred on it under this Act. The Commission has power to - Special powers of the Commission

(a) cause investigations to be conducted as to whether any person, corporate body or organization has committed any offence under this Act or other law relating to economic and financial crimes

(b) cause investigations to be conducted into the 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;

(2) The Commission is charged with the responsibility of enforcing the provisions of –

(a) the Money Laundering Act 2004; 2003 No.7 1995 N0. 13

(b) the Advance Fee Fraud and Other Fraud Related Offences Act 1995;

(c) the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act 1994, as amended;

(d) The Banks and other Financial Institutions Act 1991, as amended; and

(e) Miscellaneous Offences Act

(f) Any other law or regulations relating to economic and financial crimes, including the Criminal code of penal code

8: (1) There shall be established for the Commission a Secretariat that shall be headed by secretary who shall be appointed by the President. Appointment of the Secretary and other staff of the Commission

(2) The secretary shall be-

(a) the head of the Secretariat of the Commission;

(b) responsible for the administration of the Secretariat and the keeping of the books and records of the Commission;

(c) appointed for a term of five years in the first instance and may be re- appointed for a further term of five years subject to satisfactory performance; and

(d) subject to the supervision and control of the Chairman and the Commission

(3) The Commission may, from time to time, appoint such other staff or second officers from government security or law enforcement agencies or such other private or public services as it may deem necessary, to assist the Commission in the performance of its functions under this Act.

(4) The staff of the Commission appointed under subsection (3) of this section, shall be appointed upon such terms and conditions as the Commission may, after consultation with the Federal Civil Commission, determine.

(5) For the purpose of carrying out or enforcing the provisions of this act, all officers of the Commission involved in the enforcement of the provisions of this act shall have the same powers, authorities, privileges (including power to bear arms) as are given by law to members of the Nigerian Police.

9: (1) The Commission may, subject to the provision of this Act, make staff regulations relating generally to the conditions of service of the employees of the Commission and without prejudice to the generality of the foregoing, the regulations may provide for - Staff regulations

(a) the appointment, promotion and disciplinary control (including dismissal) of employees of the Commission; and

(b) appeals by such employees against dismissal or other disciplinary measures, and until the regulations are made, any instrument relating to the conditions of services of officers in the Civil Service of the Federation shall be applicable, with such modifications as may be necessary, to the employees of the Commission.

(2) Staff regulations made under subsection (1) of this section shall not have effect until approved by the Commission, and when so approved the regulations may not be published in the Gazette but the Commission shall cause them to be brought to the notice of all affected persons in such manner as it may, from time to time, determine.

10: (1) Service in the commission shall be public service for he purpose of Pensions Act and, accordingly, officers and other persons employed in the commission, shall in respect of their service in the Commission, be entitled to pension, gratuities and other retirement benefits as are prescribed thereunder, so however that nothing in this act shall prevent the appointment of a person to any office on terms which preclude the grant of pension or gratuity in respect of that office. Pensions, Cap 346 LFN 1990

11:
(2) For the purpose of the application of the provisions of the Pensions Act, any power exercisable under the Act by a Minister or other authority of the Government of the Federation (not being the power to make regulations under Section 23 thereof) is hereby vested in and shall be exercisable by the Commission and not by any other person or authority. The Commission shall initiate, develop or improve specific training programmes for its law enforcement and other personnel charged with responsibility for the eradication of offences created by this Act and such programmes shall include Training Programme

(a) methods used in the detection of offences created under the this Act;

(b) techniques used by persons involved in offences created under this Act and appropriate counter-measures;

(c) detection and monitoring of the movement of proceeds and property derived from economic and financial malpractices intended to be used in the commission of offences under this Act;

(d) methods used for the transfer, concealment or disguise of such proceeds, property and instrumentalities;

(e) collection of evidence;

(f) law enforcement techniques;

(g) Legal prosecution and defence;

(h) Dissemination of information on economic and financial crimes and related offences.

12: (1) For the effective conduct of the functions of the Commission, there may be established for the Commission the following units- Establishment of Special units etc

(a) the General And Assets Investigation Unit;

(b) the Legal And Prosecution Unit;

(c) the Research Unit;

(d) the Administration Unit; and

(e) the Training Unit.

13: (1)
(2) Notwithstanding the provisions of subsection (1) of this section, the Commission has power to set up any committee as may be necessary to assist the Commission in the performance of its duties an functions under this Act. The General and Assets Investigation Units shall be charged with responsibilities for – Special duties of the units

(a) The prevention and detection of offences in violation of the provisions of this Act;

(b) The arrest and apprehension of economic and financial crime perpetrators;

(c) The investigation of assets and properties of persons arrested for committing any offence under this Act;

(d) The identification and tracing of proceeds and properties involved in any offence under this Act and the forfeiture of such proceeds and properties to the Federal Government; and

(e) Dealing with matters connected with extradition and mutual assistance in criminal matters involving economic and financial offences.

(2) The Legal and Prosecution Unit shall be charged with responsibility for -

(a) Prosecuting offenders under this Act;

(b) Supporting the general and assets investigation unit by providing the unit with legal advice and assistance whenever it is required;

(c) Conducting such proceedings as may be necessary towards the recovery of any assets or property forfeited under this Act;

(d) Performing such other legal duties as the Commission may refer to it from time to time.

(3) There shall be appointed for each of the Units a principal officer who shall be known by such designation as the Commission may determine.

PART IV - OFFENCES

14: (1) A person who, being an officer of a bank or other financial institution or designated non-financial institution Offences relating to financial malpractices

(a) fails or neglects to secure compliance with the provisions of this Act; or

(b) fails or neglects to secure the authenticity of any statement submitted pursuant to the provisions of this act, commits an offence and is liable on conviction to imprisonment for a term not exceeding 5 years or to a fine of Five Hundred Thousand Naira (N500,000) or to both such imprisonment and fine.

(2) Subject to the provision of Section 174 of the Constitution of the Federal Republic of Nigeria 1999 (which relates to the power of the Attorney-General of the Federation to institute, continue or discontinue criminal proceedings against any persons in any court of law), the Commission may compound any offence punishable under this Act by accepting such sums of money as it thinks fit, not exceeding the amount of the maximum fine to which that person would have been liable if he had been convicted of that offence.

(3) All moneys received by the Commission under the provisions of subsection (2) of this
section shall be paid into the Consolidated Revenue Fund of the Federation.

15:
(1) A person who willfully provides or collects by any means, directly or indirectly, any money by any other person with intent that the money shall be used for any act of terrorism commits an offence under this Act and is liable on conviction to imprisonment for life. Offences relating to terrorism

(2) Any person who commits or attempts to commit a terrorist act or participates in or facilitates the commission of a terrorist act, commits an offence under this Act and is liable on conviction to imprisonment for life.

(3) Any person who makes funds, financial assets or economic resources or financial or other related services available for use of any other person to commit or attempt to commit, facilitate or participate in the commission of a terrorist act is liable on conviction to imprisonment for life.

16: (1) Any person who, in the discharge of his duty under this Act, gives information which is false in any material particular, commits an offence under this Act and the onus shall lie on him to prove that such information was supplied to him by another person and that he exercised all diligence to prevent the commission of the offence having regard to the nature of his functions in that capacity and in all the circumstances. Offences relating to false information

(2) The penalty for offences under subsection (1) of this section shall be imprisonment for a term not less than 2years and not exceeding 3years provided that where the offender is a public officer the penalty shall be imprisonment for a term not less than 3 years and not more than 5 years

(3) Without prejudice to the provisions of any other enactment, any regulatory agency or body in the financial sector shall in the exercise of its functions, liaise with the Commission to investigate and monitor the commission of economic and financial crimes.

17: A person who
Retention of
Proceeds of a criminal conduct

(a) whether by concealment, removal from jurisdiction, transfer to nominees or otherwise or otherwise retains the control of the proceeds of a criminal conduct or an illegal act on behalf of another person knowing that the proceeds is as a result of criminal conduct by the principal; or

(b) knowing that any property is in whole or in part directly or indirectly represents another person's proceeds of a criminal conduct, acquires or uses that property or has possession of it, commits an offence and is liable on conviction to imprisonment for a term not less than 5 years or to a fine equivalent to 5 times the value of the proceeds of the criminal conduct or to both such imprisonment and fine.

18: (1) A person who, without lawful authority Offences in relation to economic and financial crimes and petitions

(a) engages in the acquisition, possession or use of property knowing at the time of its acquisition, possession or use that such property was derived from any offence under this Act; or

(b) engages in the management, organisation or financing of any of the offences under this Act; or

(c) engages in the conversion or transfer of property knowing that such property is derived from any offence under this Act; or

(d) engages in the concealment or disguise of the true nature, source, location, disposition, movement, rights, with respect to or ownership of property knowing such property is derived from any offence referred under this Act

commits an offence under this Act and is liable on conviction to the penalties provided in Subsection (2) of this section.

(2) The penalties provided for offences under subsection (1) of this section shall be imprisonment for a term not less than two years and not exceeding three years.

19:
(1) The Federal High Court or High Court of a state of the Federal Capital Territory has jurisdiction to try offenders under this Act. Jurisdiction and special powers of the court

(2) The Court shall have power, notwithstanding anything to the contrary in any other enactment,

(a) to impose the penalties provided for in this Act.

(b) To ensure that all matters brought before the court by the Commission against any person, body or authority shall be conducted with dispatch and given accelerated hearing

(c) To adopt all legal measures necessary to avoid unnecessary delays and abuse in the conduct of matters brought by the Commission before it or against any person, body or authority.

(3) The Chief Judge of the Federal High Court or a High Court of a State or the High Court of The Federal Capital Territory Abuja, as the case may be shall by order under his hand, designate a court or judge he shall deem appropriate to hear and determine all cases under this act or other related offences under this Act.

(4) A court or judge so designated shall give such matters priority over other matter pending before it.

(5) In any trial for an offence under this act, the fact that an accused person is in possession of pecuniary resources or property for which he cannot satisfactorily account and which is disproportionate to his known sources of income, of that he had at or about the time of the alleged offence obtained an accreditation to his pecuniary resources or property for which he cannot satisfactorily account, my be proved and taken into consideration by the Court as corroborating the testimony of any witness in the trial.

20: (1) A person convicted of an offence under this Act shall forfeit to the Federal Government - Forfeiture after conviction in certain cases

(a) all the assets and properties which may or are the subject of an interim order of the Court after an attachment by the Commission as specified in
section 26 of this Act;

(b) any asset or property confiscated, or derived from any proceeds, the person obtained directly or indirectly, as a result of such offences not already disclosed in the Assets Declaration Form specified in Form A of the Schedule to this Act or not falling under paragraph (a) of this subsection;
Schedule

(c) any of the person's property or instrumentalities used in any manner to commit or to facilitate the commission of such offence not already disclosed in the Declaration of Assets Form or not falling under paragraph (a) of this subsection.

(2) The Court in imposing a sentence on any person under this section, shall order, in addition to any other sentence imposed pursuant to Section 11 of this Act, that the person forfeit to the Federal Government all properties described in subsection (1) of this section.

(3) In this section, “proceeds” means any property derived or obtained, directly, through the commission of an offence under this Act.

21: For the avoidance of doubt and without any further assurance than this Act; all the properties of a person convicted of an offence under this Act and shown to be derived or acquired from such illegal act and already the subject of an interim order shall be forfeited to the Federal Government. Forfeiture in property

22: (1) Where it is established that any convicted person has assets or properties in a foreign country, acquired as a result of such criminal activity, such assets or properties, subject to any treaty or arrangement with such foreign country, shall be forfeited to the Federal Government. Foreign Assets

(2) The Commission shall, through the office of the Attorney-General of the Federation, ensure that the forfeited assets or properties are efficiently transferred and vested in the Federal Government.

23: The passport of any person convicted of an offence under this Act shall be forfeited to the Federal Government and shall not be returned to that person till he has served any sentence imposed or unless or until the President directs otherwise after the grant of pardon or on the exercise of the prerogative of mercy under the constitution of the Federal Republic of Nigeria 1999 Forfeiture of Passports

24: Any property-
Property subject to

(a)

(b)
Whether real or personal, which represents the gross receipts a person obtains directly as a result of the violation of this Act or which is traceable to such gross receipts;

Within Nigeria which represents the proceeds of an offence under the laws of a foreign country within whose jurisdiction such offense of activity would be punishable by imprisonment for a term exceeding one year and which would be punishable by imprisonment under this Act if such act or activity had occurred within Nigeria, is subject to forfeiture to the Federal Government and no other property rights shall exist on it

25: Without prejudice to the provision of any other law permitting the forfeiture of property, the following shall also be subject to forfeiture under this Act and no proprietary right shall exist in them - Further Provisions as to the forfeiture of Property

(a) all means of conveyance, including aircraft, vehicles, or vessels which are used or are intended for use to transport or in any manner, to facilitate the transportation, sale, receipt, possession or concealment of economic or financial crime except that-

(i) No means of conveyance used by any person as a common carrier in the transaction of business as a common carrier shall be forfeited under this section unless it shall appear that the owner or other person in the charge of such means of conveyance was a consenting party or privy to a violation of this Act;

(ii) No means of conveyance shall be forfeited under this section by reason of any act established by the owner thereof to have been committed by any person other than such owner while such means of conveyance was unlawfully in the possession of a person other than the owner in violation of the criminal laws of Nigeria or any
part thereof, and

(iii) No means of conveyance shall be forfeited under this section to the extent of an interest of an owner, by reason of any act established by that owner to have been committed without the knowledge, consent or willful connivance of that owner;

(b) all books, records, research and data used or intended to be used in violation of any provision of this Act;

(c) all monies, negotiable instruments, securities or other things of value furnished or intended to be furnished by any person in exchange for any illegal act or in violation of this Act or all proceeds traceable to such an exchange, and all monies, negotiable instruments and securities used or intended to be used to facilitate any violation of this Act;

(d) all real property, including any right, title and interest (including any leasehold interest) in the whole or any piece or parcel of land and any improvements or appurtenances which is used or intended to be used, in any manner or part to commit, or facilitate the commission of an offence under this Act.

26: (1) Any property subject to forfeiture under this Act may be seized by the Commission in the following circumstances - Seizure of Property

(a) the seizure incidental to an arrest or search; or

(b) in the case of property liable to forfeiture upon process issued by the Court following an application made by the Commission in accordance with the prescribed rules.

(2) Whenever property is seized under any of the provisions of this Act, the Commission may -

(a) place the property under seal; or

(b) remove the property to a place designed by the Commission.

(3) Properties taken or detained under this section shall be deemed to be in the custody of the Commission, subject only to an order of a Court.

PART V - FORFEITURE OF ASSETS OF PERSONS
ARRESTED FOR OFFENCES UNDER THIS ACT

27: (1) Where a person is arrested for committing an offence under this Act, such a person shall make full disclosure of all his assets and properties by completing the declaration of Assets Form as specified in form A of the Schedule to this Act. Disclosure of Assets and Properties by an arrested person etc

(2) The completed Declaration of Assets Form shall be investigated by the Commission

(3) Any Person who

(a) knowingly fails to make full disclosure of his assets and liabilities ;or

(b) knowingly makes a declaration that is false; or

(c) fails, neglects or refuses to make a declaration or furnishes any information required, in the Declaration of Assets Form;

commits an offence under this Act and is liable on conviction to imprisonment for a term of five years.

(4) Subject to the provisions of section 24 of this Act, whenever the assets and properties of any person arrested under this Act are attached, the General and Assets Investigation Unit shall apply to the Court for an interim forfeiture order under the provision of this Act.
Schedule

(5) The Chairman of the Commission shall have powers to make changes or modifications to the Declaration of Assets Form specified in Form A of the Schedule to this Act as may become necessary in order to give effect to the provisions of this Act

28: Where a person is arrested for an offence under this Act, the Commission shall immediately trace and attach all the assets and properties of the person acquired as a result of such economic and financial crime and shall thereafter cause to be obtained an interim attachment order from the Court. Investigation of assets and properties of a person arrested of an offence under this Act etc

29: Where:
Interim forfeiture order

(a) the assets or properties of any person arrested for an offence under this Act has been seized; or

(b) any assets or property has been seized by the Commission under this Act, the Commission shall cause an application to be made to the Court for an interim order forfeiting the property concerned to the Federal Government and the Court shall, if satisfied that there is Prima Facie evidence that the property concerned is liable to forfeiture, make an interim order forfeiting the property to the Federal Government.

30: Where a person is convicted of an offence under this Act, the Commission or any authorized officer shall apply to the Court for the order of confiscation and forfeiture of the convicted person's assets and properties acquired or obtained as a result of the crime already subject to an interim under this Act. Final Order

31: (1) A copy of every final order forfeiting the asset and property of a person convicted under this Act shall be forwarded to the Commission. Final Disposal of forfeited property

(2) Upon receipt of a final order pursuant to this section, the Secretary to the Commission shall take steps to dispose of the property concerned by sale or otherwise and where the property is sold, the proceeds thereof shall be paid into the Consolidated Revenue Fund of the Federation.

(3) Where any part of the property included in a final order is money in a bank account or in the possession of any person, the