EFCC legal establishment begins

President Olusegun Obasanjo signed the Economic and Financial Crimes Commission (Establishment) Act into law in December 2002, creating Nigeria's first specialized anti-corruption agency with broad investigative and prosecutorial powers. The legislation gave the EFCC authority to investigate financial crimes including money laundering, advance fee fraud, and other economic offenses. The commission was designed to work alongside existing law enforcement agencies but with enhanced capabilities and independence.

The EFCC's creation followed mounting international pressure on Nigeria to address widespread corruption and financial crimes that had damaged the country's global reputation. The rise of advance fee fraud schemes, particularly '419' scams named after the relevant criminal code section, had made Nigeria synonymous with financial fraud internationally. Additionally, Nigeria faced potential sanctions from international financial bodies and needed to demonstrate serious commitment to fighting corruption to attract foreign investment and improve diplomatic relations.