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President Buhari Signs NFIU Act, Separates It From EFCC

BuhariNigeria's President, Muhammadu Buhari signing - File Photo

President Muhammadu Buhari on Wednesday signed the Nigerian Financial Intelligence Unit bill (NFIU) into law.

The Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, disclosed this while briefing State House correspondents after the Federal Executive Council meeting.

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

He said the NFIU seeks to comply with international standards on combating money laundering and financing of terrorism and proliferations and checking of suspicious transactions.

Source: OkayNG.com

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Farouk Mohammed
the authorFarouk Mohammed
Chief Editor
Farouk Mohammed is a Senior Editor at Okay Nigeria (OkayNG.com). He has been publishing for 5 years and focused more on Local/World News on OkayNG.com.

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