They include casinos, estate agents, professional bodies and associations, car dealers, hotels and super markets.
The anti-graft agency took the decision after intelligence reports pointed the institutions were helping perpetrators of economic and financial crimes to launder illicit funds.
The agency’s Director of operations, Olaolu Adegbite, disclosed this in an interview with The Nation at the weekend during a two-day “Second Sub-regional Workshop on Curbing IFFs from Africa” in Accra, Ghana.
Adegbite noted that the EFCC, Federal Ministry of Commerce and other agencies were working together to stop criminal activities in such designated non-financial institutions.
IFF is money illegally earned, transferred or used.
At origin or during movement or use, the flow of money has broken laws and is considered illicit.
It is different from capital flight, which is understood as the movement of funds abroad to secure better returns, often as a response of unfavourable business climate in the country of origin.
Nigeria topped four other countries in IFFs with $89.5 billion as the highest outflow measured followed by Egypt ($70.5 billion); Algeria ($25.7 billion); Morocco ($25 billion) and South Africa ($24.9 billion).
A report by Mbeki’s high level panel on IFFs said they played a large and detrimental role in the challenge of resource generation.
In the case of Nigeria, it said: “We remain concerned about the effectiveness of the relevant institutions, including the lack of cooperation and coherent operations among the various agencies.”
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