Financial Health Of The EFCC

SAN FRANCISCO, December 18, 2013, (THEWILL) - The attention of the Economic and Financial Crimes Commission has been drawn to  reports in some Newspapers on December17, 2013 purporting that the Commission is broke and has less than N2million in its coffers. Axxording to a statement bt the EFCC, the comment credited to the Secretary to the Commission, Mr Emmanuel Adegboyega Aremo who led a delegation of the EFCC to the public hearing by the Senate Committee on Drugs, Narcotics and Financial Crimes on the Bill to establish the Nigerian Financial Intelligence Agency, is gross misrepresentation of what transpired at the event. The mention of N2million by Aremo was not in respect of the total financial health of the EFCC, but a direct response to a remark by the Chair of the Committee, Senator Victor Lar, to the effect that his committee had observed during an oversight visit to the Nigerian Financial Intelligence Unit, NFIU that it has no power generating set while its ceiling had caved in. To this, Aremo remarked that the Commission had complained to the Committee during the visit on the state of its finances and that the situation has not improved.