Nigeria: President Buhari Creates Unit to Snoop on Illegal Money Transfers

No Comment 14 Views

President Muhammadu Buhari has signed the Nigerian Financial Intelligence Unit bill (NFIU) 2018 into law, creating a body that will henceforth monitor illegal money transfers and money laundering.

The Senior Special Assistant to the President on National Assembly Matters (Senate), Sen. Ita Enang, confirmed this development while briefing State House correspondents in Abuja on Wednesday.

According to him, the Nigerian Financial Intelligence Unit (NFIU) is the Nigerian arm of the global Financial Intelligence Units (FIUs) which was before now domiciled within the Economic and Financial Crime Commission (EFCC) as an autonomous unit and operating in the African Region.

“The Act creates NFIU to be domiciled in the Central Bank but to work autonomously and independently.”

Read the original article here: vanguardngr.com


Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.

Share This Page
Industry Webinars
FEATURED Solutions