Section 27 EFCC Act 2004

Section 27 of the EFCC Act 2004 is about Disclosure of assets and properties by an arrested person, etc.

(1) Where a person is arrested for committing an offence under this Act, such a person shall make full disclosure of all his assets and properties by completing the declaration of Assets Form as specified in form A of the Schedule to this Act.

(2) The completed Declaration of Assets Form shall be investigated by the Commission

(3) Any Person who –
(a) knowingly fails to make full disclosure of his assets and liabilities ;or
(b) knowingly makes a declaration that is false; or
(c) fails, neglects or refuses to make a declaration or furnishes any information required, in the Declaration of Assets Form; commits an offence under this Act and is liable on conviction to imprisonment for a term of five years.

(4) Subject to the provisions of section 24 of this Act, whenever the assets and properties of any person arrested under this Act are attached, the General and Assets Investigation Unit shall apply to the Court for an interim forfeiture order under the provision of this Act.

(5) The Chairman of the Commission shall have powers to make changes or modifications to the Declaration of Assets Form specified in Form A of the Schedule to this Act as may become necessary in order to give effect to the provisions of this Act