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EFCC Cannot Recover Debts

EFCC Cannot Recover Debts

EFCC Cannot Recover Debts. 

By Onyekachi Umah,Esq.

 

Economic and Financial Crimes Commission (EFCC) has powers to recover stolen monies and not loans and debts. Just like police and other security agencies, EFCC is not for debt recovery and cannot interfere with civil transactions and businesses unless there is evidence of fraud and crime generally. The amount of debt, it’s duration and even refusal to repay by a debtor does not make debt a crime.

References;

Section 6 of Economic and Financial Crimes Commission Act, 2004.

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