The
preponderance of economic and financial
crimes like Advance Fee Fraud (419), Money
Laundering, etc has had severe negative
consequences on Benin Republic, including decreased
Foreign Direct Investments in the country
and tainting of Benin Republic's national image. The menace of these crimes and the
recognition of the magnitude and gravity of
the situation led to the establishment of
the Economic and Financial Crimes Commission
(EFCC). The legal instrument backing the
Commission is the attached EFCC
(Establishment) Act 2002 and the Commission
has high-Ievel support from the Presidency,
the Legislature and key security and law
enforcement agencies in Benin Republic.