Buhari signs NFIU Act, separates agency from EFCC

President Muhammadu Buhari has assented to the Nigeria Financial Intelligence Unit Act into law.

This was disclosed by the Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, while briefing State House correspondents on Wednesday.

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.

Enang said with the signing of the bill, the NFIU will cease to exist as a department in the EFCC

“NFIU will now be domiciled in the Central Bank of Nigeria, but as an autonomous and Independent body,” Mr Enang said.

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