EFCC Presents N9.6b Budget Proposal To Senate

EFCC Presents N9.6b Budget Proposal To Senate

The EFCC Chairman, Ibrahim Lamorde, yesterday presented a budget N9,589,748,795 to the Senate Committee on Drugs, Narcotics, Financial Crimes and Anti-Corruption.

Lamorde gave the breakdown of the proposed budget as follows – capital expenditure: N542,199,776; personnel cost: N7,053,942,866 and overhead cost: N1,993,200,000.

He pointed out that, the EFCC proposal of N9, 589,748,795 as against N9, 479,748,795 approved by the Budget Office leaves a gap of N110m which could affect the operation of the agency.

Commending the Commission for its efforts in projecting the image for Nigeria through the fight against economic and financial crimes, the chairman of the committee, Senator Victor Lar recalled that the picture was bleak four years ago when the seventh National Assembly was inaugurated, with Nigeria listed among the five most corrupt nations of the world. He appreciated the milestones recorded in the fight against corruption since 2011.

“Today, by the special grace of God, Nigeria has not only been delisted from the Financial Action Task force (FATF)’s target but are being considered for membership of FATF. The second after South Africa,” Lar said.

He expressed delight over the 126 convictions recorded by the EFCC in 2014 which he said was a significant improvement on the 87 and 117 recorded in 2012 and 2013 respectively.