By Adebayo Williams
The Economic and Financial Crimes Commission, EFCC, will keep two percent of recovered loot for its operational cost, the Senate ha said. The development was announced by the Chairman, Senate Committee on Anti-corruption, Chukwuma Utazi. Utazi spoke while the committee visited the Enugu office of the anti-graft agency. He said the bill to amend the Act on which the commission was set will be passed next week empowering the EFCC to keep its two percent cut from recovered loot.
“There is a bill for an Act to amend the EFCC laws. We will pass the bill next week.
“We have made provisions for the EFCC to auction seized assets. We have also made provisions for special funding for the EFCC. Going forward, the EFCC will keep two per cent of whatever it recovers for its operational cost. We have big plans to ensure that things are working well for the EFCC,” Vanguard quoted him to have said.