TheCable

The senate has passed the Nigeria intelligence financial agency (NFIA) bill which removes the unit from the control of the Economic and Financial Crimes Commission (EFCC).

The bill was introduced last Thursday by Chukwuka Utazi, chairman committee on anti-corruption, following the suspension of Nigeria by the Egmont Group.

TheCable had reported how the group suspended Nigeria.

One of the grounds for the suspension was that the Nigeria financial intelligence unit (NFIU) is not independent. The unit is currently under the EFCC.

If Nigeria fails to comply with the group’s demands for a legal framework granting autonomy to the NFIU by January 2018, the country will be expelled from the global body which provides the backbone for monitoring international money laundering activities.

The bill to make the NFIU an autonomous agency passed second reading on Tuesday. But no public hearing, which is customary, was held to get the input of citizens, civil society and stakeholders before it was laid on Wednesday, and summarily passed on Thursday.

However, before it becomes operative it must be passed by the house of representatives and assented to by the president.