Buhari moves to unbundle EFCC, creates another body

President Muhammadu Buhari, has instituted moves to unbundle the Economic and Financial Crimes Commission (EFCC).

Buhari moved to create a new body known as the Proceeds of Crime Recovery and Management Agency.

This is was disclosed by the President of the Senate, Ahmad Lawan, who read a letter from Buhari on the proposed bill tagged: “Proceeds of Crime Bill” yesterday during plenary.

Lawan said the unbundling would address the problem of lack of transparency and accountability associated with the management of recovered funds by anti-corruption agencies in the country.

Buhari in the letter explained that the transmission of the piece of legislation to the National Assembly for consideration followed its approval by the Federal Executive Council.

According to the letter dated October 6, the agency would be critical in sustaining the fight against corruption, money laundering and illicit movement of stolen funds through the banking system and across Nigerian borders