Section 18 EFCC Act 2004

Section 18 of the EFCC Act 2004 is about Offences in relation to economic and financial crimes and penalties.

(1) A person who, without lawful authority –

(a) engages in the acquisition, possession or use of property knowing at the time of its acquisition, possession or use that such property was derived from any offence under this Act; or

(b) engages in the management, organisation or financing of any of the
offences under this Act; or

(c) engages in the conversion or transfer of property knowing that such property is derived from any offence under this Act; or

(d) engages in the concealment or disguise of the true nature, source, location, disposition, movement, rights, with respect to or ownership of property knowing such property is derived from any offence referred under this Act
commits an offence under this Act and is liable on conviction to the penalties provided in Subsection (2) of this section.

(2) The penalties provided for offences under subsection (1) of this section shall be imprisonment for a term not less than two years and not exceeding three years.