Senate Resolves To Create Law Granting NFIU Autonomy From EFCC

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The Nigerian senate has vowed to create a law seperating Nigerian Financial Intelligence Unit (NFIU)  from the EFCC, giving the Nigerian Financial Intelligence Unit (NFIU) full autonomy with full independence and powers to employ, promote and discipline its staff.

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This move by the senate came as a result of the suspension of the NFIU from the Egmont Group.

The NFIU is an arm of the anti graft agency, the EFCC.

The Nigerian Financial intelligence Unit, NFIU help in tackling money laundering and monitor financial flows.

Speaking on the floor of the Senate,Senator Chukwuka Utazi, who represents Enugu north in the Senate noted that Nigeria was suspended from the Egmont Group because the NFIU was not autonomous.

According to senator Utazi, the interference of Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), in the affairs of the NFIU is another reason Nigeria was suspended.

“By virtue of our membership of the group, NFIU enjoys the benefit of privileged information which the members of the group share among themselves,” Utazi said.

“This intelligence sharing is crucial to the universal and local war against corruption, money laundering, terrorism financial and economic crimes.

“Apart from the suspension of Nigeria this July, the group has given Nigeria up to December 2017 to address the issues raised in the suspension or be expelled which will attract international sanctions.”