BREAKING: Senate initiates bill to strip EFCC of control over NFIU

Nigerian Senate

The Senate has received a bill to establish the Nigerian Financial Intelligence Agency, moving a step closer to making the country’s financial intelligence unit, currently under the EFCC, totally independent.

The bill, introduced by Chukwuka Utazi, was read for the first reading on Thursday, a day after the Senate sought the independence for the NFIU, in response to the suspension of Nigeria from the Egmont Group.

The development also came after the Economic and Financial Crimes Commission, EFCC, took a step to “reposition” the NFIU and make it “an autonomous unit under the EFCC”.

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