- The Nigerian Senate has passed a bill to strip the Economic and Financial Crimes Commission (EFCC) the power to control the Nigerian Financial Intelligence Unit (NFIU)
- The new bill leaves the NFIU as an independent agency
- The bill further established the Nigerian Financial Intelligence Agency
The Nigerian Senate on Thursday, July 27, passed a bill to strip the Economic and Financial Crimes Commission (EFCC) the power to control the Nigerian Financial Intelligence Unit (NFIU). The bill sponsored by Chukwuka Utazi, the Senator representing Enugu North Senatorial District, was passed by the Senate after the committee on anti-corruption and financial crimes in its report recommended that the bill be considered.
After the consideration of the bill, the Nigerian Financial Intelligence Agency (Est, etc.) Bill, 2017 (SB. 535), the Senate further dissolved into the committee of the whole for clause by clause consideration of the report.
Senate had received the bill to establish the Nigerian Financial Intelligence Agency (NFIA).
The bill, the sponsor said, is closer to making the financial intelligence unit of the EFCC independent.
It was gathered that the sponsorship of the bill was sequel to the EFCC's move to re-position the NFIU and make it autonomous under the commission.
The lawmakers while debating on the bill said their decision was based on a alleged suspension of the NFIU from the Egmont group - a group which allows anti-graft agency across the globe to share intelligence relating to financial crimes and illicit flow of funds.
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