House of Representatives Praises EFCC, NFIU for Role in Economic Recovery

The House of Representatives has commended the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) as crucial institutions in Nigeria’s economic recovery and financial system stability.

The recognition came on Monday during the agencies’ 2025 budget performance review and 2026 budget defence at the National Assembly in Abuja.

Chairman of the House Committee on Financial Crimes, Ginger Onwusibe, highlighted the growing synergy between the EFCC and NFIU, noting it has strengthened Nigeria’s anti-money laundering framework and restored international confidence. He specifically pointed to Nigeria’s recent exit from the Financial Action Task Force (FATF) grey list in October 2025 as a key achievement.

“Permit me to commend the EFCC and NFIU for their tireless efforts, particularly Nigeria’s recent delisting from the FATF grey list. This achievement underscores the government’s commitment to combating financial crimes,” Onwusibe stated.

The lawmaker disclosed that as of October 2025, the EFCC had recovered over N566 billion, $411 million, and 1,502 properties, while securing 3,175 convictions nationwide. He credited the NFIU for providing critical intelligence that supported these investigations.

Onwusibe attributed these results to the leadership of EFCC Chairman Ola Olukoyede and NFIU Director Hafsat Bakari. He emphasized that the agencies’ work enhances Nigeria’s global reputation, improves access to international finance, and attracts foreign investment.

While praising their performance, the committee chairman stressed that both agencies must continue to operate with professionalism, transparency, and accountability to meet public expectations in the anti-corruption fight.

Looking ahead, Onwusibe noted that the proposed 2026 budget focuses on infrastructure, food security, and macroeconomic stability. He cautioned that effective implementation and increased revenue generation are vital for success.

The committee assured that it would rigorously scrutinize the budget proposals of the EFCC and NFIU to ensure optimal use of public funds and alignment with national priorities.