Nigerian President Signs Nigerian Financial Intelligence Unit Bill Into Law

President Muhammadu Buhari has signed the Nigerian Financial Intelligence Unit bill 2018 into law. The Senior Special Assistant to the President on National Assembly Matters Sen. Ita Enang, confirmed this development while briefing State House correspondents in Abuja.

According to him, the Nigerian Financial Intelligence Unit is the Nigerian arm of the global Financial Intelligence Units which was before now domiciled within the Economic and Financial Crime Commission 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.The Act is intended to allow this agency to collate and disseminate financial intelligence to security agencies, intelligent agencies and other agencies which are entitled to receive it.

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