was illicitly misappropriated with the object of earning wealth which is
Criminal. He maintained that by virtue of Sections 6 and 7 of the EFCC
(Establishment) Act, 2004, the EFCC has the power to investigate and
prosecute all financial crimes. He submitted that the case of Dr. Joseph
Nwobike SAN V. FRN (Supra) relied upon by the Applicant, is
misconceived as it did not stop the Respondent from investigating or
prosecuting the offence of Criminal Breach of Trust and so the Applicant’s
application is premised on frivolity or recklessness.
From the wordings of Section 46 of the EFCC (Establishment) Act 2004,
the test to be applied as to whether a particular act is an economic and
financial crime, is whether the objective of the act which is alleged to be a
crime, is geared towards earning wealth illegally.
- Emmanuel Ahmed V. FRN (2009) 13 NWLR pt 1159 p
536.
- Bovao V. FRN (2017) LPELR 43006.
- Nyame V. FRN (2010) 7 NWLR pt 1193 p 344.
- Dr. Joseph Nwobike SAN V. FRN Suit No. SC/CR/
161/2020.
Section 46 of the EFCC (Establishment) Act, 2004 which defines
economic and financial crimes, provides as follows:“Economic and financial crimes means the non-violent
Criminal and illicit activity committed with the
objective of earning wealth either individually or in a
group or organized manner thereby violating existing
legislation governing economic activities of government
and its administration and includes any form of fraud,
narcotic drug, trafficking, money laundering,
embezzlement, bribery, looting and any form of corrupt
malpractices, illegal arms deal, smuggling, human
trafficking and child labour, foreign exchange,
malpractice including counterfeiting of currency, theft of
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