The bill is part of efforts by the Senate to reverse the suspension of the Nigeria Financial Intelligence Unit from EDMONT Group and speed up the process of teh recall of the NFIU to the platform for all financial intelligence units around the world.
The Bill seeks to establish the Nigerian Financial Intelligence Agency as the central body responsible for requesting, receiving, analysing and disseminating financial and other related information to all law enforcement and security agencies, as well as other relevant authorities?.
Correspondent JAMES IGAH reports that the suspension of Nigeria from the EDMONT Group was due to alleged meddling in the Nigeria Financial Intelligence Unit by the Acting Chairman of the Economic and Financial Crimes Commission, EFCC.
The legislation intends to remove the NFIU from the control of the EFCC and empower it as an autonomous agency in line with international best practices.
