The EFCC Act is an Act mandates the EFCC to combat financial and economic crimes. The commission is empowered to prevent investigate, prosecute & penalize economic and financial crimes and is charged with the responsibility of enforcing the praising of other laws & regulating relating to economic & financial crimes, including:
Economic & Financial Crimes Commission Establishment Act (2004)

The Money Laundering Act 1995
The Money Laundering (Prohibition) Act 2004
The advance fee Fraud and other Fraud Related offences Act 1995  
The Failed Banks (Recovery of Debts) and Financial Malpractices in Bank Act 1994
            In addition, the EFCC will be the key agency of government responsible for fighting terrorism.
S.1       Provides for its establishment
S.2       composition of the commission
S.1 of the EFCC Act LFN (2004) provides for the establishment of the commission. It has juristic personality by virtue of S.1(2) of the Act.
S.2 of the Act provides for the composition of the commission.
            The tenure of office of the members is prescribed under S.3 (1). Where a vacancy occurs, in the membership of the commission, it shall be filled by an appointment of a successor to complete the term of the predecessor.
Functions of the commission are as specified in part II of the Act.
S.6 provides for its function whereas the powers assigned to the commission derive its relevance from S.7.
            Offences created under this Act includes, offences relating to financial malpractices. This offence is entrenches under S.14 of the Act.
S.15 Provides for offences in relation to terrorism
S.16 Provides for offences relating to false information 
            The Act further provides for penalties accompanying these offences. They are provided for under S.18 of the Act.
S.32 Provides for offence in relation to forfeiture order.
The Jurisdiction & Special powers of Curt are provides for under S.19.
S.20 Provides for forfeiture of the property or process obtained for the property which is an object of the offences to the federal government.
S.21 also provides for same.
S.22 Provides for forfeiture of foreign assets
S.24 also provides for forfeiture of real or personal property which a person obtained directly as a result of the violating of this Act.
S.25 Provides for forfeiture of all means conveyance used in transporting or concealment of the subject financial or economic crime.
This provides for forfeiture of Assets of persons arrested for offences under this Act.
S.27 Provides for disclosure of assets and properties by an arrested person etc.
S.28 & S.29 Provide for forfeiture of assets.
            Final order is made by a curt on conviction of a suspect on the application of the commission or any authorize officer.
S.31 Provides for the final disposal of the forfeited property.
S.33 Provides for consequences of acquittal in respect of assets & properties. The curt makes an order of revocation of an in term order on acquittal of the accused.
S.34 Provides for freezing order on bakes or other financial institutions.
Immunities of an officer of the commission when investigating or prosecuting a case under this Act is provided for under S.41 
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